NKE Swing Idea

29 Eyl 2020

• NKE showing strength on a relative basis compared to the S&P 500 index (SPX)
  
• Strong recent earnings reaction (+8% on earnings day) with new all-time high
  
• Consumer Discretionary (S5COND) has been outperforming the SPX on a relative basis while trading above the 200-day moving average (indication of an up-trend)
  

Solid dip buy opportunity with limited downside risk using 122.50 as a stop.