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Nike

ENJ 1H: Tokenize Me*This is not financial advice. Do your own research.* In the matter of a few days, companies showing public interest in NFTs has grown wildly. Microsoft announced Azure Heroes, which actually uses the Enjin blockchain, Nike announced ERC-721 use for tokenizing their sneakers, Binance announced NFT collectibles for the holidays (using 1115, possibly Enjin in the interim until their planned move to BEP7), and a few less notable companies. Microsoft caused the huge pump on this chart, but I'm inclined to believe that it's not over. OBV is at ATH. Above observations are self-explanatory. Good luck!
Long
by see_are_em
Nike Is Using Round Numbers As SupportFollowing the 2+ years of consolidation from December 2015 to May 2018, it was likely that price was going to trend to the upside after breaking out. Usually, when price consolidates for lengthy periods of time, it tends to form a big trend in the direction of the breakout. As the breakout occurred above resistance, we may see a trend continue for weeks if not months. A consolidation lasting for a number of years normally develops into a strong linear trend but in the case for Nike, we have seen more of a choppy trend with deep pullbacks. What is apparent about these pullbacks is that they have been finding support at round numbers. The first pullback after the consolidation period began when price started to decline in September 2018 and price found support in December 2018 at the $70 round number. Then price headed back up and soon pulled back to use the $80 round number as support in August 2019. After price briefly held at $80, it found momentum and shot up through the $90 round number with ease, only to pull back and use $90 as support where it currently lies. If price follows the current pattern, it shouldn’t be too long before we see another move to the upside. What we will have to wait and see is if price can break through the $100 major round number and also pull back to use it as support. One thing to note is that the behaviour of a stock or any instrument can change over time. Price may decide to move away from the pullback pattern and form a strong linear trend when it passes $100 in which case we will witness a fast-moving trend. As for now, we will have to wait and see what price decides to do next. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NYSE:NKELong
by Sublime_Trading
Nike Showing Us They Can Just Do ItWith an average volume of 6.3 million, Nike Inc is continuing to soar to new heights in the markets which is probably spurred on by sales being up 41% in the first quarter of 2019. Looking at the technical side of things, we can see from the weekly chart that price has been clearly trending to the upside over the long-term. Price was in a strong bull trend from March 2009 from a low of $9.56. Over the next 6 years, price catapulted over 590% making easy returns for investors holding onto Nike Inc shares over this period as price reached $68.19. With every huge trend, there will come a period where price will become exhausted and either pull back deeply or enter a long period of consolidation. This will generally take place before price resumes the trend or may even result in a complete reversal. In this case, price entered a long period of consolidation lasting 2 years and 5 months from December 2015 to May 2018. The consolidation was held up by using support in the form of the $50 round number, which is a psychological support zone. As mentioned, long periods of consolidation usually follows huge trends, the same is true the other way round. Huge trends usually follow long periods of consolidation. We may just be at the early stages of a strong bull trend in this stock. When price broke out in May 2018 we saw a strong move to the upside, then price pulled back sharply and retested resistance turned support in December 2018. This support level gave price a push up once again and has since been creating higher highs and higher lows. The 50 sma has been used as support along the way which also helped price escape from the recent consolidation zone breaking above $90. Nike Inc is now creating new all-time highs and may continue to climb for some time. One thing to bear in mind is that we have the $100 round number which is a strong psychological support/resistance zone. We may see price comfortably move through this level or reverse at that point or go into consolidation. We can never predict how price will behave, so it’s best for traders to just wait for price to break through $100 before looking for long opportunities. Price is just over 500 points away from $100 so we may not have to wait too long before buying shares. As always, keep it simple, keep it Sublime.
NYSE:NKELong
by Sublime_Trading
2
NIKE 1D BULLISH RANGE BREAKOUTRanges are repeatable trading chart pattern. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:NKELong
by Tradingstrategyguides
FOOTLOCKER LONG INTO EARNINGSWe have here a retailer with a P/E AND P/S that puts the rest of the market to shame. We HAVE to ask ourselves when do the value investors step in? I believe that question will be answered on AUG.23rd on the back of this companies earnings. They lowered expectations and with 60% of their sales coming from Nike and with Nike beating earnings this is a good bet. I see a 17% upside on the back of good earnings. Stop loss at 36, Take profit at 47. Good luck.
NYSE:FLLong
by cryptorichhh
Elliott Wave View Favors More Upside in Nike (NKE)Short term Elliott wave view in Nike (NKE) calls the rally from June 3 low unfolding as a 5 waves impulse Elliott Wave structure. Up from June 3 low, wave 1 ended at 78.58 and wave 2 pullback ended at 77.58. Wave 3 ended at 84.23 and subdivides as another impulse structure in lesser degree. Wave 4 pullback ended at 82.47, and wave 5 ended at 84.38 which also subdivides as an impulse in lesser degree. The 5 waves move higher ended wave (A) and the stock is now correcting cycle from June 3 low in wave (B) The correction is proposed to unfold as a zigzag Elliott Wave structure. Potential area where wave (B) can end is 50 – 61.8% Fibonacci retracement of wave (A). This area comes at 79.69 – 80.54 where buyers can appear for more upside. We don’t like selling the stock.
NYSE:NKE
by Elliottwave-Forecast
NIKE 1D COLLAPSINGPotential Market Problem with Chinese Tariffs Market Place - 5 Dow Stocks with High Chinese Exposure with 10% revenues in China Apple, Boeing, 3M, Nike, Procter & Gamble Market Realist - 2014 28% Nike shoes sold in China 34% Nike Apparel sold in China GQ - 2017 19% Nike shoes sold in China 1D chart Descending Triangle chart pattern Weekly support levels shown Triangle bottom and Weekly support level create a support zone Watch for a candle close below this zone Watch for a break-hook-go pattern on smaller time frame Decreasing volume and rising price shows buyers weakening creates a bearish bias
NYSE:NKEShort
by Tradingstrategyguides