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NIKE INC

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NKECL trade ideas

How To Trade Stocks with Volume Profile (NIKE Analysis) 👟In today’s analysis, I will give you a quick guide on analyzing and trading stocks with Volume Profile. I am going to focus on long-term investments, not day trading. NIKE – Volume Profile analysis What i really like about Volume Profile is it’s versatility. You can use it for almost any trading instrument and the best thing is that you always do it the same way. The strategy and setups are the same regardless of what you trade. In this case I did my analysis on Daily chart (you can also do this on Weekly). From July to August the price of Nike was in a rotation. The price created a flag and the rotation was becoming tighter and tighter. The tighter the rotation becomes, the higher chances it will shoot aggressively up or down from there. And this exactly this happened in the beginning of August. The tight price channel broke, and the price shot upwards, starting a new trend. NIKE – Point Of Control (POC) I used my Flexible Volume Profile to look inside the rotation area to see how the volumes were distributed there. It showed that there were massive volumes traded in that rotation, and that the Point Of Control (place with the heaviest volumes traded) was at 98.00. This is an important information because this is the place where most of the trading took place. I expect that the big trading institutions (banks, hedge funds, pension funds,…) were building up their massive Long positions there. When they finished doing so, they started to push the price aggressively upwards into a new uptrend. When the price makes it back and tests the POC at 98.00 I think that those big institutions will become active again and that they will drive the price upwards again. POC is very important level for them because they have placed most of their positions there. They will defend it, and for this reason it should work as a strong Support. So what now? Now we wait until the price comes back to 98.00. You can set a pending order there, so you don’t miss the trade entry when the price makes it to 98.00. I hope you guys liked the article. Let me know what you think and if you are into trading stocks or if you prefer currencies, futures, or something else. Happy trading! -Dale
NYSE:NKE
by Trader_Dale
2
NKE to break higher on technicals and earningsNike had a good earnings report this past quarter beating over 100% of the analysts' expectations on some strong volume too. We can see the potential of the break of the top on these higher lows as well. The current resistance is at $130-$131 where we have see the level get tested time and time again on strong bullish momentum and candles, meaning whoever is stopping form price moving through that level has a lot of stops hidden above. That buy stop run could open up price aggressively to the first target at $145.00 or so. There is the possibility we pullback to close the gap or into the $123 support too before rocketing higher. The higher probability move is the breakout though. With the potential Santa Claus rally coming through and the elections resolving some of the uncertainty in the market, it would see that retail especially online retail may get a nice push this year due to quarantine as well. This idea is for educational purposes only, should not be taken as investment advice or trading advice.
NYSE:NKELong
by TRADEPROAcademy
1