The Long Investor

$NKE TOP 20

Added 2024-08-18 19:28:30 +0000 UTC

$NKE got the catalyst it needed this week when it was revealed that Bill Ackman reduced his exposure in $GOOG and added $NKE, remember, all of this happened before the end of June 30th and their earnings were on the 27th of June, so it is unclear whether or not Pershing Sq bought after the earnings sell off or before.....or if they accumulated while the price was at the 0.887 Fib at $73

I suspect that if they liked it at $88, they'd love it at $73 and added at both levels.

Either way it has reacted very strongly....and I like how Bill Ackman likely saw the benefit of the Olympics being exposure here, which is what we thought too post earnings in June.

No pull back yet either and I suspect it will come shortly and I will add the potential support levels if you want to add

Again, a market leader for a reason and I think they will turn this around and will be an excellent long term hold to add on the pull back.