Nike is heading for its first close above $100.00 since June 25th, the day before it reported its Q4 earnings results. Since earnings the stock has been consolidating in a narrowing range. Looks like a fresh rally leg could be developing. 50/200D bull cross underneath. Daily MACD is neutral=room to run. A close back below $95.00 would violate this week’s low indicating more sideways action is on the way.
We are long NKE in some managed accounts.