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New Position Nike (NKE)

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August 28, 2012 – Comments (0) | RELATED TICKERS: NKE

I took a position in $NKE today at $97.41. The stock moved extensively on the heels of Stifel Nicolaus reiterating its "BUY" rating sighting increased demand for the back to school season. Technically, the stock has cleared the 8 ema with volume and is now in a volume pocket to $106.50. Expect some resistance at the 200 day while it rolls through the hundred dollar mark.  

Here's the NKE Trade Setup

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