Keep an eye on Nike (NKE).
After slipping from about $105 to $97.50, the stock appears to have bottomed out, and is just starting to pivot. It’s also showing signs of bottoming out on RSI, MACD, and Williams’ %R, and could retest resistance around $105 again shortly. Longer-term, we’d like to see NKE refill its bearish gap around $122.50.
Helping, analysts at Guggenheim just added Nike as a best idea of 2024, with the recent pullback creating a compelling entry point. “We believe Nike is laying the groundwork for impactful launches of new products to deliver an acceleration in top line growth in H2 2024 and into 2025,” said the firm, as quoted by Seeking Alpha.
The firm also has a buy rating on NKE, with a price target of $130 a share.
See what we had to say about Nike (NKE) back in January here.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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