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NKE

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
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