Keep an eye on beaten-down shares of Nike (NKE).

After gapping from about $100 to $87.50, NKE is just starting to pivot higher from over-extensions on RSI, MACD, and Williams’ %R. Last trading at $92, we’d like to see it initially refill its bearish gap around $100 shortly. Helping, Bank of America just upgraded the stock to a buy rating, with a price target of $113 a share. 

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“We are upgrading NKE to Buy as [profit] estimates finally look achievable,” added the firm. “Relative valuation [is] extremely compelling” as well, as quoted by Barron’s.


Ian Cooper