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This is the real battle at the World Cup

One of the biggest rivalries in sports is happening on the soccer fields of Brazil right now and at stake are billions of dollars.

Of course we're talking about the fight between Nike and Adidas. And, for the first time ever, Nike is sponsoring more teams than Adidas in the World Cup.

America's Nike has been aggressively spending to take market share from its archrival, Germany's Adidas. In the most recent quarter, Nike increased its marketing spending36 percent. That helped boost revenue on continuing operations to $7.43 billion in the last three months, 13 percent higher than the same time last year.

(Watch: Nike higher on strong earnings)

Gina Sanchez, founder of Chantico Global, thinks Nike is on the right track.

"Nike has really been growing across all of their main brands and in all of its geographic segments," said Sanchez, a CNBC contributor. "They have definitely seen some payback. They also outfit the U.S. team – I do think that matters."

"I'm very positive on Nike," Sanchez added.

According to Todd Gordon, founder of TradingAnalysis.com, Nike's technicals recently made a change that will bode well for the stock, which has traded in a range between $70 and $80 since October.

(Watch: Where Nike is scoring)

"It's been in what we call a simple technical consolidation – it's a triangle pattern – through all 2014," he said. "Low volatility, low volume."

The change happened after Nike's positive earnings on Thursday, said Gordon. He purchased shares Friday morning.

"This is not a long-term investment," Gordon said. "This long-term consolidation should only give us about a break from $80 up to about $85."

But, it's not just technicals that have Gordon excited about Nike. "Yes we have the World Cup," he said. "You know who else is back? A major Nike athlete right now is Tiger Woods. He just came off of injury and is back on the golf course so maybe that'll help them as well."

To see the full discussion on Nike, with Sanchez on the fundamentals and Gordon on the technicals, watch the above video.

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