$NKE along with $DIS and $INTC have all been aligning with the complete impulse and corrective cycle which originated from the GFC and started from the low in 2009.
$60 was lost this week which was the Covid low after the Vietnamese Tariff, which turned out to be the most harshest tariff on all countries.
$NKE and the US clothing companies did not need that this week
However, Vietnam has been one of the first countries to reach out to the US to make a deal
Which makes perfect sense because a lot of their economy relies on these companies producing in Vietnam.
Those who are happy to accumulate here under the blue line should do so with the intention to hold long term
Those who have not started yet should consider waiting until $60 is recaptured to lower your risk.