Chart of the Day - Nike (NKE)

The "Chart of the Day" is Nike (NKE), which showed up on Wednesday's Barchart "All-Time High" list. Nike on Wednesday posted a new all-time high of $114.56 and closed up 2.68%. TrendSpotter just turned Long on Wednesday's upside breakout. Nike was last featured on "Chart of the Day" as of the Dec 9, 2011 close of $97.68. In recent news on the stock, Benchmark Co. on April 20 initiated coverage on Nike with a Buy and a target of $128. Janney Capital on April 13 initiated coverage on Nike with a Buy and a target of $127. Argus on April 3 reiterated its Buy rating on Nike and raised its target to $122, citing cost cutting, the company's dominant competitive position, and the company's growth opportunities in China. Nike, with a market cap of $51 billion, is one of the largest sellers of athletic footwear and athletic apparel in the world.