NKECL trade ideas
NKE post earnings gapHistorically NKE will lose trading volume after earnings, combined with weaker price action, this stock will stabilize around the bottom of the gap. RSI points to an overbought signal which after back-testing this indicator, shows that the share price of NKE does not like to live above 80 for longer than a day or two with large upward price action. MACD is at the peak of its convergence, there is a high probability that the moving averages will begin to diverge in the next week. This could be setup for a nice swing trade, I admit I am "jumping the gun" on this one, but with a decent risk-reward of ~2.5 the losses could be minimizes easily. Good luck!
NIKE - Descending channelAs we saw with other stocks they joined in a pullback what will show again a drop to lower levels.
I'm short in nike.
Nike might not be that bad $nke
Long into earnings, $71 and $77 target .
Support has been found at long last
Nike Long Trade into earnings
Earnings may not just be as bad as expected.
Oversold and trying to reverse.
Quick Long Scalp (within a week):This is for my personal use, but I am publishing just to get my idea in concrete, and see how it plays out.
So just looking at the chart:
FIB: I set up a fib retracement from April 2018 and Janaury 2018 to the most recent highs of January 2020. (Give me an idea of support and resistance levels.
Trendlines: I set up some trend lines to help forecast a possible bounce.
Candlesticks: There is a bullish hammer formed on the daily. Its wick touches the $73 support level
Trade:
SL:$72.50
Open: $74 Area
TP:$82
Watch Price Action Prior to entering
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.
Double Bottom(DB) in the making NIKE. Near Target $94Tweezer bottom indicate that price to bounce to trendline $94. DB is confirm when break trendline @$94, Next resistance $104
NKE Rubberband SnapbackNKE just ran into its 200 moving average along with support level of $90. The overall market is completely at an oversold state with major indexs running into 200 day moving average as well. I believe we'll see a hard bounce off these levels to minor resistance at $96
THANKS CORONAVIRUS , I CAN BUY AGAIN NIKE AT 95 !!!! SO GRATEFULBE COURAGEOUS IT WILL PASS AS ALWAYS IF YOU HAVE CASH ASIDE JUST BUY THE DIPS YOU WILL BE REWARDED IN FEW MONTHS
Take care of yourself and relax and keep calm
NKE - cycle bottoming - consolidation stageNow lets take a look at NKE. Weekly charts are suggesting both major and minor cycle bottoming out over the next 4 weeks. Last few cycles have bottomed in time so one may expect a timely bottom . Where we find support during this time will give us a fair idea about the next cycle expectations.
At this stage we see the following prevailing conditions:
1. $106 to 108.5 likely cycle resistance and Fib ext target zone
2. Lower support zone between $95 to 97 levels
3. $87-89 likely strong support as previous cycle peak/ support confluence zone
If you like what you see, share a thumbs up and follow for more updates
Cheers
NKE possibly turning upwards in trend channel Nike has turned down in the trend channel, approaching its mean reversal. In the event that price reaches the mean reversal and the long term RSI starts to turn upwards, I will look for a long position, with target towards upper trend channel (ATH).
Nike top forming?At least in the short-term nike seems to be forming a top at this median line & top slope in pennant. RSI hold below 70 would be indicative of a top too.
