Last week Nike (NKE) was upgraded to outperform with a price target of $84, after reporting a positive future outlook. This move propelled the retailer into all-time high stock prices. See my first look at this stock.
What makes this move even more pivotal is that Nike has consistently topped out around $66 for the last couple of years, so finally breaching this resistance could mean some new levels for Nike.
Remember we are talking about ALL-TIME highs.
In his latest video, Adam Hewison looks at Nike’s latest’s moves and the ‘energy field’ it has created. In fact, he puts the price target into the $90′s.
Overall, I like this stock to retest the gap it just created before possibly heading higher. Watch more of the analysis of Nike.
More on this topic
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Nike Up After Hours On Earnings News
(Navivest Stocks and Options Blog, 3/17/10)
The Controversial Tiger Woods Nike Ad and a Bunch of Satires
(Wall St. Cheat Sheet, 4/8/10)
Nike's New Report on Corporate Responsibility
(Green Chip Stocks, 2/5/10)