NKE trade ideas
Elliott Wave View: Nike continues to make All Time HighShort term Elliott Wave view on Nike (ticker: NKE) is calling the rally from August 5, 2019 low (78.19) as a 5 waves impulse Elliott Wave structure. The chart below shows wave ((iii)) of the impulse ended at 89.35, and wave ((iv)) pullback ended at 86.54 as a symmetrical triangle. The stock then extended higher in wave ((v)) with internal as an impulse of lesser degree.
The stock is currently pulling back in wave 2 to correct the entire rally from August 5 low before it resumes higher. Wave 2 pullback unfold in 3, 7, or 11 swings. After finishing red wave 2 pullback it is expected to extend higher.
NKE Compression Pattern Near Highs of the Trading RangeNKE shows price has compressed into a tighter candlestick pattern formation near the highs of its long-term trading range pattern. The compression has minor Dark Pool Quiet Rotation™.
NKE, Nike Inc. - Breakout on Ascending TriangleNYSE:NKE
Net breakout of the resistance of the ascending triangle on one of our favourite companies.
The Risk Reward is also excellent.
All parameters comply with the entry model of our strategy.
NIKE BULLS TAKING OVERThe price opened higher (above the blue zone on D) and rejected the zone on the H4 timeframe.
Price will move towards the fibonacci extensions.
NIKE 1D BULLISH RANGE BREAKOUTRanges are repeatable trading chart pattern.
Ranges are consolidation chart patterns that can breakout either direction.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Worth the risk to short NKENKE is trading at a P/E of 35 while the industry is just 24.9, suggesting a price of only 62 instead of 87. At the same time earning per share per quartes hasn´t increased at all in the last few years, actually they are way lower than in 2013-2015 when the stock was trading at a price between 30-50, so how can we expect to keep going up?
The ATH for the stock is 90 USD, so we are trading only at only 3% down from there. I will take the risk and going short from 87.3 expecting a decreased to at least 70 USD and a stop loss of 92 just in case it decide to test the ATH before going down.
Today we will have new earnings comings, so we might start getting the decrease in price.
Good luck traders!!!!!
Chinese dislike Mr Trump but love NikeWe have outlined on the chart our technical reason for the $99 price target, on the fundamental side the strength within China for Nike is amazing and shows that the Chinese consumer is more than willing to sacrifice nationalism for the sake of fashion. Basketball within China presents huge opportunities and Nike is to the forefront of reaping the rewards, highlighted by 60 consecutive months of growth despite trade dispute and tensions.
Entry level $92
Target Price $99
Stop loss $90
P/e ratio 32
Average Analysts price target $99 | Overweight
NIKE. into E. Ascending Triangle, plus 3x hitting Resistance. Sometimes the Technical Pattern/Set-up is all you need going into E to make a decent bet. This one despite the 35x PE was relatively easy. I bought Calls. Should pay well Wednesday if it holds up. The Pattern was key to my decision to go LONG today because Options were lining up about even on both sides, and the fundamentals + News was uncertain as well, what with China and Tariffs playing a big role.
NKE CoilingYou can see the pennant forming. Not sure if it tanks on the rate announcement or earnings, but I think it reverses.
Considering how pumptarded this overbloated pig gets, there is still a chance that this is a continuation pattern and it goes to ATH on crap earnings. It's done it multiple times already, lol. Their profit hasn't increase in years...
Not paying this, good luck...
$NKE earnings play$NKE Reverse Iron Condor
Sell: 9/27 93c for .38
Buy: 9/27 92.5c for .48
Buy: 9/27 85.5p for .1.25
Sell: 9/27 85p for .1.08
Net Debit: $0.27 (Max Loss)
Max Profit: $0.23 (<85.23 or >92.77)
NKE: Wait to Buy- NKE trading in large lateral channel
- Unable to break past 90
- Wait for drop to $80 then buy back
Chinese Canceled and Nike Suffers...Very unexpectedly, Chinese officials canceled their upcoming meeting with the White House today. And as suddenly as the news came out, the market left the green territory and soon became red, moving VIX by +9.04%.
Since about 19% of Nike's sales take place in the Chinese market, the news impacted the stock negatively. Besides the news, the chart also signifies that something is holding the stock back. ~89.50 level has been a strong selling area since April and the price has not successfully passed this level ever since. This identifies a strong selling pressure at ~89.50 price. It could also be an early sign for a triple top pattern (I do see this likely, but the pattern is not developed yet). In a longer timeframe such as the weekly chart, NKE has been developing a rising wedge pattern. The pattern is bearish and if we take the recent rally from ~78 to ~88, I believe we have a partial raise. After touching the lower boundary of the wedge in August, this increases the likelihood of a bearish breakout by 80%. With respect to momentum, bullish momentum has been decreasing rapidly and MACD should signal a sell on Monday. Today's candlestick was also quite bearish.
I currently have an active position; I have been short since Monday and it has been losing all week. Nevertheless, it turned into profit just today. No further scaling in; Just watching its flow...
Cheers!
9/20 Option Call for NKE Based on current market conditions and previous trends, I am predicting NKE to be worth $88 a share by September 20th.
I am an experienced investor but new to trading view, I will be focusing on price trends for Options trading.
Feel free to comment your opinion. I am 0 for 0 on my Calls based on my trading view trending experience.
NKE TradeSo I flipped some puts earlier this week for a good gain, re-entered the trade today. NKE appears to be rangebound since the recovery from the big drop, and it seems to wind up around $84 for earnings.
Decided to hold on to the puts for Monday, the conservative target is $86, aggressive target is $84.5. Depends on what the computers do with Dow futures. If the Dow stays flat or green like today, I'm bailing early.
Note that I'm doing quick flips, I got a couple of messages that NKE wasn't going anywhere AFTER I had already posted that I had closed the trade earlier this week. If anyone followed me into this trade today (posted it in my earlier NKE post), I plan on flipping the puts when it goes oversold on the hourly again.
NKE isn't gonna tank unless earnings suck, don't hold the short position expecting this to go straight down.
Nike about to test heavy Resistance Technical analysis
We see a divergence between the OBV indicator with a downtrend since august. (short-time bear)
Heavy resistance will probably be tested soon around $90 . / check chart for more details
NKE, just short it.Can't believe this PoS hit ATH again. Obviously getting a pump from being in the Dow, this will tank again when the pump stops.
Rolled my COUP profits into some weekly puts. Might just be a one day play on what appears to be a reversal. Of course they might pump futures tonight, so be careful. Small play.
Nike updateNike market cap $138.51B and is part of Dow Jones. Price approaching all time highs again. Recent daily candles show price finds it difficult to go higher, though there is space to overbought on a daily.
4 hour though quite overbought and candles showing potential reversal here. Great risk reward for a short here.
Good Luck!
