NKE has formed a perfect head and shoulders and fell through the neckline on HEAVY volume. If support fails at this major trendline, I'm expecting a freefall.
I won't pretend to know much about Nike's business, but I doubt a 28 P/E is warranted. Heavy insider selling is also disconcerting. This stock has PLENTY of room to fall.
The market is crashing and this is a perfect short candidate.
I won't pretend to know much about Nike's business, but I doubt a 28 P/E is warranted. Heavy insider selling is also disconcerting. This stock has PLENTY of room to fall.
The market is crashing and this is a perfect short candidate.