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NKE

Elliott Wave View: Nike Rally Expected to FailNike (Ticker: NKE) shows an incomplete sequence from January 22, 2020 high suggesting further downside is likely. The decline from January 22 high is unfolding as a double three Elliott Wave structure where wave ((W)) ended at 85.15 and wave ((X)) ended at 94.98. The stock has resumed lower within wave ((Y)) and the internal of wave ((Y)) subdivided as a zigzag structure. Down from March 3 wave ((X)) high at 94.99, wave 1 ended at 90.57 and wave 2 bounce ended at 93.79. The stock then resumed lower in wave 3 towards 85.88 and bounce in wave 4 ended at 88.67. The final leg wave 5 ended at 80.92 and this also completed wave (A). Wave (B) rally is now in progress to correct cycle from March 3 high before the decline resumes. Expect rally to complete at 87.79 – 91.38 area and stock to resume lower. We don’t like buying the stock. As far as pivot at 94.99 high stays intact, expect rally in Nike to fail in the sequence of 3, 7, or 11 swing for more downside. Potential target lower is 100% – 123.6% Fibonacci extension from January 22 high which comes at 69.93 – 74.7.
NYSE:NKE
by Elliottwave-Forecast
NKE in a New Range?In the trading session following the release of their Q1'20 ER on September 24, 2019, NKE closed at $90.81, finally pushing through that resistance level around $89. Although a little choppy, shares rose higher in the first half of October until Mark Parker, the 13-year CEO and 40-year employee of Nike, announced that he was stepping down on October 22, 2019. This sent NKE lower and left it hovering around that $89ish level for ~2 weeks, using this level as support. However, since mid-November, shares have been soaring and seemingly broken through some important resistance levels. Although NKE experienced a small sell off, shares seemed to get strong support at that lower line drawn in the chart and worked its way back up to $100/share only to close just shy of that level ($99.96). It seems that NKE has some serious room to run into the end of the year, especially considering were in the midst of the holiday season and I think we could see the shares perform very well into the start of 2020.
NYSE:NKELong
by mgalf
NIKE: Strong Resistance and Sell OpportunityThe price reached a strong resistance zone formed by the uptrend line, the upper Bollinger Band, and 100.00 round number level. RSI reached the overbought zone, and it will be able to confirm the price reversal by a solid signal. If you have the opportunity to sell this share, it is possible to do with entry level below the low of the 1st bearish candle and stop orders above 100.00 resistance. Profit targets should be placed based on MA with 100 and 200 periods. Of course, all trades must be done in agreement with proper money management.
NYSE:NKEShort
by DLavrov
2
THE WEEK AHEAD: FDX, MU, NKE EARNINGS; CHWY, /NG, VIXEARNINGS: FDX (57/37): Tuesday, After Market Close. MU (23/46): Wednesday, After Market Close. NKE (24/25): Thursday, After Market Close. Pictured here is an MU January 17th 46/57.5 short strangle paying 1.53 (.76 at 50% max) with 1 standard deviation break evens and a delta/theta metrics of .32/5.34. Alternatively: a defined risk play collecting one-third the width of the wings: the January 17th 42/47/55/60, paying 1.69. Neither FDX nor NKE are paying as well premium-wise relative to the cost of their shares, but the FDX 150/180 18 delta put/21 delta call short strangle in the January cycle is paying 3.88; the NKE 90/105 14 delta put/18 delta call short strangle, 1.15. Alternative defined risk plays: the FDX January 17th 145/150/180/185 iron condor, 1.50 credit (not quite one-third the width of the wings, but you have to deal with some lack of granularity in the strikes with five-wides); the NKE January 17th 85/95/100/110 "forced goofy" iron condor, 3.30 credit (one-third the width, but a "forced goofy,"* again due to lack of strike granularity). CHWY (--/50) gets an honorable mention due to lockup expiration on Wednesday. With it finishing on Friday above the $22 initial public offering price and approximately 87% of float subject to lockup, it could make for an interesting premium selling play and/or directional shot, particularly since 30-day remains high after earnings. EXCHANGE-TRADED FUNDS: TLT (31/12) EEM (28/16) FXI (19/18) SMH (15/25) USO (14/29) Expiries in Which At-the-Money Short Straddle Pays Greater than 10% of the Value of the Underlying: TLT: January '21 EEM: June FXI: June SMH: May USO: February BROAD MARKET: SPY (7/12) IWM (0/15) QQQ (0/15) Expiries in which the at-the-money short straddle pays greater than 10% of the underlying are all out in September. Ugh. No bueno. FUTURES: /NG (58/57) /ZS (36/16) /ZC (25/21) /6C (23/5) /6B (22/11) With /NG 30-day at 57 and trading at a seasonal low, this may be a second opportunity to take a dip at a bullish assumption shot, assuming peak seasonality in January or February. VIX/VIX DERIVATIVES: VIX closed Friday at 12.63, with the /VX futures contracts trading at 15.22 in January, 16.70 in February, 17.07 in March, and 17.60 in April. Consequently, term structure trades remain viable for the February, March, and April, generally using spreads with a break even at or near where the futures contract is currently trading (e.g., VIX February 19th 16/18 short call vertical, .65, break even of 16.65 versus February /VX at 16.70). * -- A "forced goofy." Strike selection is "forced" to get one-third of the width in credit, "goofy" because forcing the short option strikes leads to bigger risk than you might ordinarily want to devote to the play. There is nothing particularly wrong with a "forced goofy," as long as you understand that it's a risk 6.70/reward 3.30 play versus your usual play which might be risk 3.33/reward 1.67 play, for example.
NASDAQ:MU
by NaughtyPines
1
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
NOW - Can we get some service now please?Let's see, earnings after market close, recent analyst downgrades over last week or so, & CEO just left to take over at NKE . What does the chart say? You may have a head & shoulders pattern but that right shoulder is a bit ugly. If you do believe it is an H&S pattern, then the price target is $198.30 which would take the price back to fill the gap from January 30th. From a Fibonacci extension perspective, the price is currently around the 100% level while hitting support from the gap up back in January. This could be an ideal area to see a bounce before any continued declines. New CEO claiming they want to be heavy on acquisitions so take what you will from that.
NYSE:NOWShort
by Chartimistic
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
Worth the risk to short NKENKE is trading at a P/E of 35 while the industry is just 24.9, suggesting a price of only 62 instead of 87. At the same time earning per share per quartes hasn´t increased at all in the last few years, actually they are way lower than in 2013-2015 when the stock was trading at a price between 30-50, so how can we expect to keep going up? The ATH for the stock is 90 USD, so we are trading only at only 3% down from there. I will take the risk and going short from 87.3 expecting a decreased to at least 70 USD and a stop loss of 92 just in case it decide to test the ATH before going down. Today we will have new earnings comings, so we might start getting the decrease in price. Good luck traders!!!!!
NYSE:NKEShort
by awunkhaus
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