NIKE stock has plummeted close to 20% (it's lowest drop since 2001) following it's horrid 6/28 earnings, but every single metric out there says it's way oversold...
(P/S, P/B, P/E, hedge fund buying, analyst opinions, and overall position cost distribution)
It appears we are currently seeing a sweep of buyside liquidity at the 2/4/2020 low of $77, I'll be looking for conformation of this sweep with a low timeframe break in structure to the upside (a confirmed uptrend on the 5 min chart tmrw morning) to go long and pick up some cheeky call contracts along with my current small stock position. But...
If CPI and Powell this week tank the market and fear for nike's future is still high, we could see sweep of pandemic lows at $60. If this happens, we could witness one of the greatest trade opportunities of all time!
In which case I will be fullporting my entire net worth into 2-4 week to expiration out of the money options.
Join me as we stone hands this sh*t into the f*cking stratosphere 🗿🙌🚀
Will update with gain/loss porn
