Quant mapping Nike and USO
$NKE and $USO have been trending quite hard lately so we decided to map them for you as we construct our shopping list of potential allocation targets.
$USO seems to be printing a near term base on significant support whilst $NKE has just tested the quant level below CT and could do with a retest of that low before higher to consolidate prior gains.
Regardless of what folks say, Nike is a strong stock!
Not the worst looking stock around here however at CT it is neutral and you really need to see level 3 on the model to generate a 50/50 risk reward ratio. Until this time in a soft market fund managers would likely sit aside.
This is a key level and when taken in context with the $CRB Index making significant lows suggests that this may offer a key accumulation area for real money flows.