In our May 23 review of Nike (NKE) we forecast a rebound in price but a sell-side firm lowered their price target of the apparel maker to $150 from $160. My view of the charts is that prices are headed higher as we wrote that "Aggressive traders could go long NKE at current levels risking a close below $103. On strength above $118 traders could increase their exposure. I look for a rebound into the $125-$130 area, maybe higher."
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