Nike trading in a bullish trend and several arguments are in favor of the continuation of this trend.

From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus has recently revised upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term with moreover growth expectations for the next years.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages in all time scales. After a breakout of the upper band of a bullish channel, the stock is doing a pullback, which gives an entry point for investors.

Thanks to these good indicators, it seems relevant to take a long position in Nike at the current price (above USD 84). The target price will be the USD 90.3 resistance. In order to protect the trade, a stop-loss order will be set at USD 82.6.