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NKE

Nike Climbs While The Rest Of The Market Dips.Nike has been off the radar for some time, especially since it started consolidating from December 2015 to May 2018. The trend following its breakout of consolidation has lacked the energy and momentum of the prior trend when Nike shares saw a growth of 612% from March 2009 to December 2015. The trend experienced its first pullback and made contact with the resistance turned support at $68 in December 2018 before slowly rising again. Then due to the recent global pandemic, Nike shares plummeted towards the support at $68 once again. We then saw a sharp increase in price, seeing a rise back above the 200 simple moving average and since then we have seen a linear trend in play. The market as a whole are experiencing pullbacks and Nike looks set to end the week pulling back itself. Despite this, Nike is outperforming the rest of the market at the moment. Nike has the daily 20 simple moving average below it at the moment which may provide support, then we have the 50 simple moving average as a second option for support. Nike remains at the top of our watchlist for the simple fact that it has started to trend well and may continue to do so for some time going forward. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NYSE:NKELong
by Sublime_Trading
Elliott Wave View: Nike (NKE) Breaks to All Time HighNike (NKE) has made another all-time high suggesting the bulls remain in firmly in control. Elliott Wave View of Nike suggests the stock is still within the cycle from March low as an impulse. Currently, the stock is within wave (5) from March low. The rally from March Covid-19 low to $117.42 ended wave (3). Pullback in wave (4) completed at $110.05 as a double three correction. Down from wave (3) at $117.42, wave W ended at $110.21, wave X ended at $113.84, and wave Y of (4) ended at $110.05. Wave (5) rally is now in progress as an impulse Elliott Wave structure. Up from wave (4) low at $110.05, wave ((i)) ended at $113.26 and wave ((ii)) pullback ended at $112.66. The stock then resumed higher in wave ((iii)) towards $116.21, wave ((iv)) pullback ended at $114.34, and the final wave ((v)) ended at $118.23. This also ended wave 1 of (5) in higher degree. Pullback in wave 2 is proposed complete at $114 as a zigzag. Down from red 1 at $118.23, wave ((a)) ended at $115.43, wave ((b)) ended at $116.91, and wave ((c)) of 2 ended at $114. Near term, Nike still needs to break above wave 1 at $118.23 to avoid a double correction in wave 2. As far as pullback stays above $110.05, expect the stock to find support in 3, 7, or 11 swing for new all-time high.
NYSE:NKE
by Elliottwave-Forecast
1
Nike - Still Open PositionChecking back in with Nike since our last analysis. If you check out our last Nike Post, the target hit our buy zone and we entered the position in the green rectangle on our charts. We're currently up around 5% on this one for a nice scalp trade if we wish to exit. Our initial target is still around $104-$105 mark. We're keeping a tight stop loss on this one in the profit already. Waiting to see if we dip back to our accumulation zone or take some profits. Follow us and feel free to give us a like for more posts. Cheers! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYSE:NKELong
by MannyLo
THE WEEK AHEAD: KBH, NKE EARNINGS; IWM, IYREARNINGS: KBH (64/77/15.5%) announces on Wednesday after the close. Pictured here is a Plain Jane, directionally neutral short strangle camped out at the 18 delta strikes paying 1.34 as of Friday close. Look to put on a play on Wednesday before the close, adjusting strikes as necessary to accommodate movement of the underlying between here and then. NKW (40/45/9.1%) also announces this week (Thursday after the close), but has less than ideal metrics. Naturally, those could change during the week, so it's worth keeping an eye on. EXCHANGE-TRADED FUNDS SCREENED FOR 30-DAY >35%: SLV (51/39) EWW (47/43) TQQQ (45/92) GDXJ (44/61) XLE (42/55) EWZ (42/37) GDX (38/47) SMH (35/40) XOP (31/68) USO (12/60) I generally look for rank >50, 30-day >35% with these; only SLV meets this criteria, but the August 21st 15/19 short strangle paying .61 doesn't exactly get my motor running. BROAD MARKET: IWM (61/46) SPY (38/32) QQQ (35/31) EFA (34/28) Small caps are where the volatility is at. The August 21st 115/161 delta-neutral 16 delta short strangle is paying 4.34 to put on. DIVVY-PAYING EXCHANGE-TRADED FUNDS ORDERED BY RANK: IYR (52/40) XLU (46/32) HYG (40/22) EWZ (40/57) SPY (38/32) EWA (38/38) EFA (34/28) TLT (20/17) EMB (19/17) Will look to ladder out in IYR in August, September for the IRA if the implied hangs in there. The 16 delta August 21st 67 short put is paying 1.39; the September 65, 1.61.
NYSE:KBH
by NaughtyPines
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