NIKE: Continuation of Bearish Movement Ahead, Short Opportunity?Hello Fellow Global Stock Investor/Trader, Here's a Technical outlook of NIKE!
NIKE has broken out of Ascending Broadening Wedge. Furthermore, The MACD indicator created a Death cross, indicating potential bearish movement ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/Resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the Stock"
Nike
NKE - Strong Uptrend ContinuationGreen line shows the dominant bullish trend, this extends back for awhile
White line shows apparent downtrend, with a nice falling wedge to allow for the breakout to the upside and hence continuation
I expect price short term to rise back to dotted orange line, this is shown with bars pattern
NIKE - BULLISH SCENARIOThe downtrend for Nike Inc seems to be over. The American sportswear company got huge support at the $ 100 price level.
The 1st,2nd, and 3rd resistance levels are located respectively at $ 118, $ 130, and $ 140
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Nike (pullback to make double bottom?)Looks like we may be entering into a corrective state of market structure. We have recently finished our second 5 wave impulse being that we are on a downtrend currently. We have been dealing with a bearish rally filled with good news from the media while there are still battles ongoing with rumors of war, inflation , supply chain issues etc. I could keep going but you get the point. Smart money is still being strategic about the manipulation so I wouldn't get too bullish . If this corrective wave is true, we would like to see a pullback into the B wave which should start a range for the new "ABC" correction before judging the next breakout. We have our stop loss set at the high of wave a to be safe and our target are at the 61%, 78%, and 100%, to account for either a "regular flat", "irregular flat", or a "running flat". Not advice of course! Let's see how this plays out going forward.
Thanks for the support! Remember, the better you is tomorrow but the current days needs enough attention to get you there!
$NKE Iron Condor IdeaAfter being struck down -7% post ER and general weak market, I like the idea of selling puts on NKE via an Iron Condor (bull put spread and bear call spread).
With a demand zone 95-100 area, I opened 2x position 100/95p bull spread and 1x position 125/130c bear spreads with another 1x to be added on next green week ( assuming we get one) to capture better call premium .
Opex a few months out will give this trade idea time to work and capture more premium.
If you're more bearish than I on this name, an idea would be to adjust the calls closer to the underlying , say 110/115, however after today's purge I favor the probability on the upside hence the 2x put spread
Iron condors are nice because you can adjust the position as the stock moves (adding more legs, etc. ) with the trade making max profit if Nike is between 100 and 125 in the coming months.
Cheers
Nike to Drop in Price Until Near AugustGood Day To The Investing World
As shown in this simple analysis, judging from the previous few months of Nike's recorded performance, we can expect a drop in price on Nike's stocks.
This is a similar case for rival Adidas, who has dropped 29% in the past half year. Despite the lockdown era coming to an end, it's only one or the other that will eventually make the line point to the sky.
However, as the price falls, the trend rises. Therefore, the rise in trend will mean that eventually, as stated in the title, Nike may start rising again.
Nike sitting on 20-year support lineJust an observation: Nike (NKE) is currently sitting on the Fibonacci Bollinger Band (FBB) plot line that has generally acted as support for the past 20 years. The weekly candles are printing long lower wicks which could suggest a bullish reversal is building along this line. The yearly chart is not overextended and fitting perfectly on multiple linear log trend lines that stretch back decades. Seems like a warning to those who are selling or shorting Nike at this level. Anyone feel differently?
Not financial advice.
Nike (NYSE: $NKE) Sprinting Toward Golden Pocket! 🏃NIKE, Inc., 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. Further, it provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. Additionally, the company licenses agreements that permit unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. 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.
Grab A Pair of Nike’s For A Friendly Game Of…Grab A Pair of Nike’s For A Friendly Game Of…
...head shoulders knees and toes!
I’ve identified a head and shoulders pattern on Nike’s (NKE) weekly chart.
My plan is to swing put option contracts on NKE. The measurement from the neck to the head is approximately 55.69 ticks. Therefore, the maximum price move to the downside is 62.99.
On another note, I was looking at Nike’s trend going back to 2016 and identified several bullish patterns along the way that made me smile with glee. I like this stock and will pay attention to it more than I have in the past.
*This is not financial advice.
“Check” your head and shoulders,
Al
NIKE INC. Long positionNike seems to be in a long-term correction where it has completed wave A and now looking into forming wave B. Within wave B, wave A and B seem to be completed in a nice text-book style flat correction. Wave 1 of C seems complete. I will look at the behavior and reaction to the upside in the coming week to confirm my bias.
NKE Bullish for Weekly Trade: Expect to clsoe above 122.68NKE has remained within our internal trading parameters. After assessing the past six weeks our probability is pushing out greater than 90% of closing above the 122.68 by end of the week.
Therefore, we are bullish in short term sentiment. Bullish target could be the 129 area, but remaining above the 122.68 is the overall target.
End of the week is the key; however, profits can always be taken earlier and expiration dates (if trading options) can be extended out.
Nike Running Away?Nike
Short Term - We look to Sell at 136.07 (stop at 140.63)
Bespoke resistance is located at 140.00. Posted a Bearish Outside candle on the Daily chart. The bias is still for lower levels and we look for any gains to be limited. The primary trend remains bearish. Daily signals are bearish.
Our profit targets will be 119.93 and 111.01
Resistance: 140.00 / 155.00 / 160.00
Support: 125.00 / 120.00 / 100.00
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$NKE Head & Shoulder PatternNike ($NKE) on the daily looks to be forming a left shoulder to complete a head and shoulders pattern.
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