Continuation wedge indicates breakout above $80 as the first move of a new elliot wave.
Look to use the 100 day SMA as a stop to leave a comfortable potential profit/loss ratio.
A proposed immediate long position in Nike (NKE) - recent bullish signals (above Ichimoku cloud), MACD cross.
For an in-depth analysis of the fundamentals see seekingalpha.com supporting this view.
After big home run from $46 it topped at $80. Then it was sold off on bad earnings release and found bottom close to $71. Since then Nike formed nice Cup&Handle pattern and with recent price action it broke up handle and triggered entry at $76.50.
While I was writing this post it gapped up through $77 resistance after it delivered fiscal Q4 results. Now we have...
