Chris Verrone Is Bullish On Nike, Paypal And F5 Networks
Chris Verrone of Strategas Research Partners shared with the viewers of CNBC's Fast Money his technical analysis of Nike Inc (NYSE: NKE), Paypal Holdings Inc (NASDAQ: PYPL) and F5 Networks, Inc. (NASDAQ: FFIV).
Verrone thinks the bear market in Nike is over. He said the stock had three pull backs of 20 percent over the last year and it's now trading above its downtrend line. He believes it's going to trade higher and reach $65.
Paypal has been registering higher lows in the last year and it has a strong support between $42 and $43, said Verrone. He thinks it's going to $50.
F5 Networks failed to break above $140 three times over the last six years and it finally managed to break above that price level in 2016. Verrone sees the break out as a bullish sign and he believes the stock can reach $200.
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