A Look at NIKE

By TheWild1 at 4 August, 2008, 10:49 am, Categories : Stock Recommendations

Besides the fact that my closet is decked out with Nike shoes, I feel that this “best of breed” will continue strong for time to come.

General Throughts

The evolution of Nike has been nothing less of spectacular. They even have a museum set up in New York. For a little over 20 years now, Nike has been considered the top brand when it comes to athletics. Just take a second to look who they have been able to align themselves with: Michael Jordon Kobe Bryant, LeBron James, Ladainian Tomlinson, Cristiano Ronaldo, and Ronaldinho. I mean I can really go on forever; however, the important thing to take note of is the excellence that they align themselves with.

With the help of the Olympics and their innovative creation of the Hyperdunk (lightest basketball shoe ever created), Nike’s already huge global exposure should continue to rise. Also as kids head back to school and sports kick back into full gear, Nike should look for a strong upcoming quarter

Technical Analysis

After retreating from its current 52 week high of $70.60, Nike seems to have rounded out and ready for another move upwards.

We could see some resistance around the $62 mark; however, I don’t see it as much of a challenge. Current price target is $70.

Nike Chart