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Why I’m shorting Nike: Berger
Nike shares have seen a tremendous run since 2012, but now the stock looks vulnerable, says Serge Berger.
According to Berger, Nike stock has seen choppy trading since the middle of 2015 and gapped lower in March when the company came out with its latest results. Last Friday, the share price closed below the 200-day moving average and Serge says the stock looks vulnerable to breaking lower.
He is looking to sell short at $59.50 with a target at $56.00 and a stop at $61.00.
01:22 minutes
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