NIKE - BEARISH SCENARIODuring Nike's recent annual meeting, shareholders rejected a proposal from Arjuna Capital that called for increased transparency in pay equity data for female and minority employees. This proposal did not receive the required majority vote to pass. Nike has faced growing pressure for supply chain transparency, including calls to compensate workers in Cambodia and Thailand for COVID-19-related wage losses. Nike stated it hasn't sourced products from the Cambodian factory since 2006 and found no evidence of owed wages to Thai workers.
Cancel culture may play a crucial role in the future value of the shares as it already happened to a few Fortune 500 gains.
NKED trade ideas
Nike Monumental Macro TA FindingsHi guys! This is a look into Monumental MACRO developments occuring in Nike stock market structure, some of which are happening for the 1st time in history.
For this reason and in my opinion, its a very important time to keep eyes on Price action.
The aim is to briefly go over what those developments are and what it may mean for NIKE's Current market trend. Hopefully providing insights for investors.
For this analysis, we are looking at Hieken Ashi candles on the 6 month timeframe.
Note that: Our current candle will close in January 2024. So it has alot of room to change by the time the candle closes.
Ive chosen Hieken Ashi candles to provide clarity in patterns of trend that occured in Nike's History.
Our major development is that we have broken down BELOW and confirmed resistance against our MAJOR MAJOR Historical Support Trendline for all of Nike's Market History.
This is the 1st time we have ever done this.
It warrents caution as this signifies Major Trend Change, perhaps even macro trend reversal.
While we were above the Spport line, we knew that everytime we came down we would atleast test that line.
Now that we are BELOW it, we need price to find the next support.
Currently ive highlighted by a Black Support Trendline, that very support area. We've maintained support since January 2020.
This line coincides with another black line that marks Resistance.
When combining these 2 black lines, we have ourselves a Symmetrical Triangle. That is very likely to play out sooner or later.
If we are able to break above it, it may be probable for us to get back ABOVE the MAJOR SUPPORT Orange line, continuing our Uptrend.
If we break below, further declines will occur. Further supporting the idea of a Major Trend Reversal.
We are also currently at 4 Red candles in a row. If you notice previous history, 4 in a row has happened only 1 other time. July 83 to Jan 85. And also notice that the 3rd candle of the sequence indicated market bottom with the 4th candle printing a higher low.
Can that be the case for us now? Maybe but things in the past don't have to repeat.
Being inside of the symmetrical triangle, 4 red candles in a row would warrant me to NOT take any investment positions.
In my opinion, if we break out on the upside of the symmetrical triangle and preferably get back above "Orange support line", would i consider taking positions.
I think as of now however, we are at best more likely to either move in a range/ sideways or see further declines as the worst case.
Why i think this, is because of the STOCH RSI.
Notice how we are below the 20 level with a bearish cross/signal.
The last time we did this, we were in here for multiple years which led to moving in a range for many years before continuing to make all time highs.
Within range our, price dropped from the top about 67% to bottom of the range.
If we continue the previous pattern, the same is likely. Hypothetically, we can also drop 60% to $70.00 level, which is a support area.
For that to not happen we would need a BULLISH cross ABOVE the 20 level.
Also notice the RSI, we are currently at the lowest level in all of NIKE history. We are also in an RSI range that coincides with sideways or range bound action.
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Nike - Bottom or ABC?Nike is close to an important level which will determine if a bottom formation is completed or a further slump will occur. Currently a DBW formation is build after almost perfect a Dopple Top Formation has been finished. Currently we are close to the 4 level, the current local low. The RSI is close to oversell, which support the turn around idea, which may result into a W formation whose execution would probably trigger the 5 and the DBW activation. On the bearish side a potential running ABC pattern can be found fitting perfect into the chart and the Fibonacci patterns.
$NKE Head & Shoulders Pattern Triggered"Head & Shoulders" pattern, and mentioning the ticker symbol " NYSE:NKE ," which represents Nike, Inc., a well-known athletic apparel and footwear company. The "Head & Shoulders" pattern is a technical chart pattern that traders and analysts often use to predict potential trend reversals in stock prices.
The Head & Shoulders pattern typically consists of three peaks or highs: a higher peak (the "head") between two lower peaks (the "shoulders"). This pattern is considered bearish, indicating a potential reversal from an upward trend to a downward trend. The pattern is triggered when the price breaks below the neckline, which is a support level connecting the lows of the shoulders.
$NKE Double BottomNYSE:NKE recently experienced an unprecedented 9-day losing streak, marking a historic occurrence in their trading history. According to technical analysis, a Double Bottom pattern is emerging, emphasizing the significance of maintaining a weekly close above the horizontal support line. This pattern suggests potential bullish momentum if the specified level is upheld.
NKE long at the supportHello traders,
Today let's have a look at NKE stock on 4h time frame.
NKE shows some weakness .
We believe that the price will retest the support and 103,60 will be an entry for a long position.
After retesting the support, we expect the price to increase and continue ranging.
2 targets and stop loss are shown on the chart
Buying Nike at trend of higher lows.Nike - 30d expiry - We look to Buy at 104.54 (stop at 100.74)
The trend of higher lows is located at 104.50.
The primary trend remains bullish.
This is currently an actively traded stock.
This stock has seen good sales growth.
Dips continue to attract buyers.
Our profit targets will be 114.04 and 116.04
Resistance: 110.85 / 114.76 / 117.00
Support: 107.00 / 105.00 / 102.90
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Nike short? Strong negative chart formationNike has performed really bad in the last 2 years and it looks like it will not get better. The current chart formation (i call it M-bounce, dont know the "official" name) indicates a strong sell Signal if the price falls below 103$
the potential fall height: 16% to the last low and 40% to the corona low
NKE good value at todays pricesThe world's largest athletic apparel company, Nike is best known for its footwear, apparel, and equipment. Founded in 1964 as Blue Ribbon Sports, the company became Nike in 1971 after the Greek goddess of victory. One of the most valuable brands among sport businesses, Nike employs over 76,000 people worldwide.
Nike's (NKE:NYSE) Q4 Results Highlight Persistent ChallengesIntroduction:
Nike's Q4 results reveal that the company continues to face challenges, indicating a potential revision of their long-term sales growth target. Despite notable successes in certain regions, caution remains regarding the company's future growth prospects, particularly in the highly competitive Greater China market.
Challenges in Overcoming Obstacles:
Nike's Q4 results suggest that the company is still grappling with obstacles. The need for a potential revision of their long-term sales growth target highlights ongoing challenges in achieving desired growth rates. It indicates the necessity for strategic adjustments to navigate market dynamics effectively.
Unchanged Inventory Value and Reliance on Promotions:
Nike's inventory value has remained unchanged compared to the previous year, indicating a stagnant stock situation. To clear excess inventory, the company has relied on promotional efforts, which are expected to continue into FY24. This reliance on promotions suggests a need for continued efforts to optimize inventory management and drive sustainable sales growth.
Cautious Outlook for Greater China:
While Nike achieved significant revenue growth of 25% in the Greater China region, caution persists regarding future growth prospects. Mounting competition in the region raises concerns about Nike's ability to maintain its market position and sustain growth in the face of intensified competition from local and international rivals. Strategic measures will be crucial to secure a competitive edge and capture market share effectively.
Conclusion:
Nike's Q4 results indicate that the company continues to grapple with challenges, prompting a potential revision of their long-term sales growth target. The stagnant inventory value and reliance on promotional activities reflect the need for continued efforts to optimize inventory management and drive sustainable sales growth. While Nike achieved impressive revenue growth in Greater China, caution remains due to mounting competition. As Nike navigates these challenges, strategic adjustments and a focus on market dynamics will be essential for securing future growth and maintaining a competitive position in the highly competitive athletic apparel industry.
This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.
Nike has no upside -NKE has gave us confirmation that we are in a W3 and still looking for more downside. We saw rejection from the W2 off of the .5 fib level and have since been in a decline. I have drawn a blue line where I want to see price break though and keep heading lower.
I would stay away from Nike for now as it plummets.