Are All-Time Highs Supported In Nike?

With shares of Nike (NYSE:NKE) trading around $54, is NKE an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

C = Catalyst for a Stock’s Movement

Nike is involved in the design, development, marketing, and selling of footwear, apparel, equipment, accessories and services worldwide. The primary focus of the company is in athletic footwear and apparel. With the recent fitness boom we are seeing, Nike is providing the products that consumers enjoy. As the health awareness trend continues, look for Nike to remain a leading provider of the most demanded products.

T = Technicals on the Stock Chart are Strong

Nike stock has been in a brilliant uptrend over the last decade. The stock has had its higher highs and higher lows as well as ranging periods over the years. Currently, the stock is battling near the all-time high zone. On a decisive break above all-time highs, watch for Nike to see continued positive price momentum…