#NIKE Technical Analysis and Trade IdeaMarket Observations: NKE has decisively broken its previous downtrend, establishing a higher high. This bullish breach was further fueled by a liquidity run targeting sell stops below the recent triple-bottom (equal lows). The strong momentum accompanying this breakout signals a potential buying opportunity.
Trade Strategy: Target a buy entry upon a retracement to the 61.8% Fibonacci level. Be sure to place a stop-loss order below the recent swing low to effectively manage risk. Maintain a favorable risk-reward ratio.
Video Focus: This video explores the technical analysis principles that support this bullish perspective:
- Trend Analysis: Identify breakouts and trend reversals with clarity.
- Liquidity Runs: Understand how stops are targeted and the impact on price.
- Fibonacci Retracements: Recognize key retracement levels for optimal entries.
Disclaimer: This analysis is provided for educational purposes and should not be interpreted as financial advice. Thoroughly conduct your own research and assess your risk tolerance before making investment decisions.
Nike_daily
Nike potential Cup and Handle after nasty fall T - $138Potential C&H is forming on Nike.
It's definitely too soon to execute trades based on the week upside in the last few days. We need the price to break above the Resistance of the previous M Formation.
This one requires a bit of patience because anything can happen at this rate.
Either it can form a C&H, W Formation, Scallop. Or it could fail and drop further if we don't see strong buying activity from Smart Money.
We'll have to wait and see.
Mixed MAs
RSI>50
Target $138.11
ABOUT THE COMPANY
Nike, Inc. is an American multinational corporation that is one of the world's largest suppliers of athletic shoes and apparel.
Founding: Nike was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight.
Name Origin: The name "Nike" was adopted in 1971. It comes from the Greek goddess of victory, Nike (pronounced "Nee-key" in Greek), symbolizing the company's goal to associate its products with victory and success.
Swoosh Logo: The iconic "Swoosh" logo, representing the wing of the Greek goddess Nike, was designed by graphic design student Carolyn Davidson for a mere $35.
First Shoe: The first shoe with the Swoosh logo was a soccer shoe named "Nike," released in 1971.
Public Listing: Nike went public in 1980 and is listed on the New York Stock Exchange (NYSE).
Global Brand: As of 2021, Nike operates in more than 170 countries around the globe.
Revenue: In its 2020 fiscal year, Nike generated over $37 billion in revenue.
Sponsorships: Nike is well-known for its endorsement contracts with high-profile athletes like Michael Jordan, Tiger Woods, Serena Williams, and LeBron James, among others.
Air Jordan: Nike's Air Jordan brand, launched for Michael Jordan in 1985, has become one of the most successful and iconic shoe brands in history.
Innovations: Nike is known for its innovative products, such as Air Max, Nike+ (a collaboration with Apple), and Flyknit shoes.
Just Do It: The "Just Do It" campaign, launched in 1988, has become one of the most famous and effective marketing campaigns in history.
Nike Playing the Short Game? Nike - Short Term - We look to Sell a break of 143.08 (stop at 148.92)
Posted a bearish Flag formation. A break of 143.00 is needed to confirm the outlook. Closed below the 20-day EMA. 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. The sequence for trading is lower lows and highs.
Our profit targets will be 126.53 and 119.05
Resistance: 150.00 / 155.00 / 160.00
Support: 140.00 / 130.00 / 120.00
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Nike will always be victorious. $NKE. After selling off a bit, it has nicely rebounded from it's .236 Fibo (see also BUY signal).
It's trading in range just above it's POC (point of control), bouncing off the .786 Fibo retracement.
With ER on 3/18, we can expect an earnings run-up, will face resistance at $150, $152 and $156.
I'm long on Nike.
Happy Trading, from CJ -- aka the greatest FURU.
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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.
Nike trajectory - Med term target $54 in 2019?Thank for viewing,
Disclosure; I haven't been tracking Nike until a couple of days ago and thought I would post this to see if I can get some feedback. I am not presently able to short trade this share so am just watching for now. I was drawn to it by recent news about presumptive Np.1 NBA draft pick Zion Williamson's and minor injury caused by a Nike shoe blowout. My analysis does in no way hinge on this story, but it can't help the Nike share price and it may just be enough to allow the previous swing high to not be exceeded. A lot of people (who aren't top level sports talent) can place themselves in Zion's shoes (like literally).
I would also point to Nike's increasingly politicised marketing campaigns as a cause for investor concern (personally I am a supporter or Colin Kaepernick's protest and would like to see him play again) simply because they have decided to place a talented Sportsman who isn't presently playing at high levels at the centre of their marketing campaign. You don't need to wear the best designed sports shoe to protest inequality. There is a risk that Nike's huge (31% of costs) marketing budget has become at least partially un-linked to mastery in the game. This perceived link had, until now, served them very well.
Air Jordans were the highest selling shoe because almost everyone wanted to emulate or be associated with Michael Jordan's absolutely dominant and universally recognised basketball mastery. Even sales of these have slowed recently (www.thestreet.com).
These are sideline issues compared to the increasing miscompare between Nike's share price and dividend yields. in late 2017 Nike's PE ratio went from 22 in August and 25 in November to 62 in Feb 2018 and 65.57 in August 2018 (www.macrotrends.net) also (ycharts.com). This is over-extended bubble territory. When PE ratios get too high and EPS fall investors are understandably less willing to accept share price volatility (which increases), so any price weakness should result in a steep selloff.
This is a conditional post; I have shown on the chart what I expect to happen over the coming weeks. If the price and RSI both show a lower high and the MACD MA crossover holds and heads downwards for the zero line I think a deep correction is in play. If these three things happen, I would say $54 per share is conservative. Results are expected in a few days at the end of February, expect the high of $86.04 to not be exceeded and the results to be insufficient to support such an inflated PE ratio (which, of course, hinges on very bullish expectations of future growth). Even if Nike posts expected or above expected earnings guidance I expect there to be a sell-off as investors realise how over-extended the share price has become.
This was seen in 2018: "Investors weren't all that impressed. 10 percent revenue growth ... it really needed to be a little bit more than that," Stacey Widlitz, president of consulting firm SW Retail Advisors, told CNBC (www.cnbc.com)."
My view is, of course, coloured by a an increasingly bearish view of the S&P500 and expectations of a European (Italy in recession, Germany likely to follow with GDP growth currently at 0%) and US recession possibly apparent shortly. Most analysts are calling a 2020 US recession. I just think it may be brought forward a few months. Nike has increased revenue by raising prices for its goods, something that may shortly become unsustainable. I will be following with interest. Good luck everyone and protect those funds.
NKE @ daily @ worst dow performer `16 (-18%) turned around ?Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
DOW JONES Index incl. all 30 Shares (2016 Yearly Performance) @ drive.google.com
Best regards
Aaron