Nike (NKE), Roper (ROP) Resuming Strategic Advances?

Conclusion, Investment Implications, Strategy

Nike (NKE) and Roper Industries (ROP) are amid favorable conditions to resume their current Strategic (quarterly) Uptrends. Details below. These are an Asbury Value trade ideas.

Nike (NKE)

NIKE, Inc. (NKE), together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel. In addition, the company sells a line of performance equipment and accessories comprising bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities; and various plastic products to other manufacturers. The company was formerly known as Blue Ribbon Sports, Inc. and changed its name to NIKE, Inc. in 1971. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.

The rightmost green highlights in Chart 1 below show that NKE is currently rebounding from an Oct 1st test of its 200-day moving average, a widely-watched major trend proxy currently situated at $145.66 (upper panel) while also rebounding from monthly (our Tactical time period) oversold extremes (lower panel). The other green highlights show that a similar oversold extreme on Jun 18th coincided with the resumption of NKE’s larger Strategic (quarterly) advance and a rise to new all-time highs. These conditions set up a low-risk opportunity to buy an uptrending stock in a potentially low-risk/high reward environment while situated just above major support.

Chart 1

Table 1 below shows that an upside target of $175.00 and a protective stop placed below the $144.37 area, a long entry price of $152.00 would provide a 1:3.0 risk/reward ratio (risking $1.00 to make $3.00) with an initial risk of 5.0%.

Table 1

Roper Technologies (ROP)

Roper Technologies, Inc. (ROP) designs and develops software, and engineered products and solutions. The company offers management, campus solutions, laboratory information management, enterprise management, information solutions, transportation management, financial and compliance management, cloud-based financial analytics and performance management, and diagnostic and laboratory information system software; and software, services, and technologies for foodservice operations. It also provides cloud-based data, collaboration, and estimating automation software; electronic marketplace; visual effects and 3D content software; wireless sensor network and solutions; cloud-based software solutions; supply chain software; health care service and software; RFID card readers; data analytics and information; pharmacy software; and toll system and products, transaction and violation processing services, and intelligent traffic systems. The company was formerly known as Roper Industries, Inc. and changed its name to Roper Technologies, Inc. in April 2015. The company was incorporated in 1981 and is based in Sarasota, Florida.

The rightmost green highlights in Chart 2 below show that ROP is also currently rebounding from an Oct 1st test of its 200-day moving average, a widely-watched major trend proxy currently situated at $440.99 (upper panel) while also rebounding from monthly (our Tactical time period) oversold extremes (lower panel). These conditions set up a low-risk opportunity to buy an uptrending stock, which appears to be resuming its April Strategic advance, in a potentially low-risk/high reward environment while situated just above major support.

Chart 2

Table 2 below shows that an upside target of $520.00 and a protective stop placed below the $439.40 area, a long entry price of $459.00 would provide a 1:3.1 risk/reward ratio (risking $1.00 to make $3.10) with an initial risk of 4.3%.

Table 2

Click Here for a table containing all of our current stock, ETF and index ideas.

Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.

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Nike (NKE), Roper (ROP) Resuming Strategic Advances?

Conclusion, Investment Implications, Strategy

Nike (NKE)

Roper Technologies (ROP)

Asbury Research

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and updates to our quantitative models

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Nike (NKE), Roper (ROP) Resuming Strategic Advances?

Conclusion, Investment Implications, Strategy

Nike (NKE)

Roper Technologies (ROP)

Asbury Research

Asbury Research subscribers get more detail on our latest analysis, and updates to our quantitative models

Schedule A 15-Minute Zoom Meeting With Us To Get More Information >>>

Asbury Research subscribers get more detail on our latest analysis,
and updates to our quantitative models