Today’s Chart of the Week comes from our premium monthly conference call for All Star Charts members.
We’re looking at Nike (NKE).
It’s breaking out, and I think it’s ready for the next leg higher.
After a failed move last week, it’s ready to rip.
We are LONG Nike if the stock is above $131.
Below that, we are just watching, but once NKE is above $131 I love this stock with 50 points of upside, targeting $181.
That’s as good a risk reward ratio as we can hope for.
Til next week, good trading,
P.S. If you didn’t get a chance to join us live, check out the replay from last week’s live Charting Room session.
The Elephant in the (5G) Room
Now is a time when it pays to heed timeless financial wisdom.
John Templeton, one of the world’s greatest investors, once said, “To buy when others are despondently selling and to sell when others are avidly buying requires the greatest of fortitude and pays the greatest ultimate rewards.”