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Nike Rises 11 Pct Today, As Per InvestingHaven’s Forecast

Nike’s (NKEstock price rises 11 percent today, in line with our forecast earlier this year. InvestingHaven was on record forecasting much higher prices in Nike’s stock, and, today, the market is doing what it was signaling already many months ago. This is another case where patient investors which a sharp eye get rewarded.

We provided sufficient coverage on Nike’s stock price this year. Specifically, we wrote these 3 pieces:

As per InvestingHaven’s methodology Nike’s breakout was in the making for a long time, and one could see it coming because of the fact that the chart, financials and fundamentals were all bullish, perfectly aligned.

Per the ‘start with the chart’ principle Nike’s chart was signaling a long breakout process. This happened at a time where financials were outstanding, and fundamentals continued to improve. This is a classic situation of a stock price ready to go much higher.

This is the quote from the January article:

Nike’s chart reflects its strong fundamentals. Essentially, we are looking at a breakout which took place in January of 2018. In plain simple terms, after the strong rally between 2013 and 2015, which took Nike’s price from $20 to $65, the stock took a rest of 2 years which is a very healthy situation. Such a consolidation period is great to ‘fill the battery’ (proverbially), and ready for the next leg higher.

Today, Nike came out with great quarterly results: revenue rose, profits rose, shareholder value increased by a share repurchase program of the company, and so on.

This is why the chart IS the real news: it was visible on the chart that this would happen. That is why InvestingHaven keeps on repeating that the news is meaningless, at ‘best’ there to confuse investors. The chart itself reveals signs of the upcoming news, as smart investors will leave some fingerprints on the chart.

The right way to read the chart, financials and fundamentals is the trick for successful stock identification.

nike stock price june 2018

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