NIKE - Dead or a Cheap Opportunity? Nike has been on a rough patch recently & this past week didn't help as it saw it's worst day in over 20 years.
Now the question is, is Nike dead in the water or has price gotten so cheap that it makes for a good investment opportunity?
Now, I'm not here to tell you that you should or shouldn't buy Nike, rather if you were considering it, where you may want to look to do so at & what you need to be aware of if you do.
I'd love for you guys to continue the discussion by sharing your opinions below!
And as always I wish you a fantastic week of trading and investing.
Akil
NKE trade ideas
NKE Nike Options Ahead of EarningsIf you haven`t sold NKE on this Head and Shoulders bearish chart pattern:
Now analyzing the options chain and the chart patterns of NKE Nike prior to the earnings report this week,
I would consider purchasing the 97.50usd strike price Puts with
an expiration date of 2024-7-19,
for a premium of approximately $4.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NKE Short Idea **Reasoning:**
- Nike (NKE) has seen a significant drop, over 20% in one week, due to poor earnings and declining demand for footwear.
- The stock closed with a high relative volume of 8, indicating heavy selling and buying activity involving both new and long-term investors.
- This trend is expected to continue, potentially leading to further declines in the stock price to the $70-$60 range.
- A volume profile analysis shows major dip buyers around $50, suggesting significant support at that level.
- The plan is to short the price earnings gap move with a stop loss at AVWAP and another position with a stop loss at the high of the day.
- Continuous additions on pullbacks into AVWAP during capitulation are recommended.
- This stock is a major watch for both long and short traders due to the big trade potential on the horizon.
NKE ShortNike (NKE) has seen a significant drop, over 20% in one week, due to poor earnings and declining demand for footwear. The stock closed with a high relative volume of 8, indicating heavy selling and buying activity involving both new and long-term investors. This trend is expected to continue, potentially leading to further declines in the stock price to the $70-$60 range. A volume profile analysis shows major dip buyers around $50, suggesting significant support at that level. The plan is to short the price earnings gap move with a stop loss at AVWAP and another position with a stop loss at the high of the day. Continuous additions on pullbacks into AVWAP during capitulation are recommended. This stock is a major watch for both long and short traders due to the big trade potential on the horizon.
NIKE GREAT INVESTMENTNIKE STOCK
BUY ON:
Spread the investment over the following price levels.
65.00 $
53.97 $
41.37 $
31.90 $
24.80 $
TP1: 91,82 $
TP2: 101,46 $
TP3: 145,05 $
TP4: 166,49 $
🎲🎲🎲🎲
Good Luck.
$NKE bottomed? NYSE:NKE stock dropped significantly yesterday, but I see a potential buying opportunity here as it found support right at the VAH from the 2009 lows. This suggests that the trend from that year has been broken, and a new cycle may likely begin now.
Nike’s Plunge. x_xNike Inc. (NYSE: NKE) has experienced a precipitous decline, closing at $75.37, down by almost 20%. This has sparked intense scrutiny and speculation regarding the stock’s future trajectory. Here’s an in-depth technical analysis to offer insights and projections.
Nike’s recent price action is characterized by a sharp sell-off, forming a large bearish candlestick on the weekly chart. This signifies a strong bearish sentiment among investors. The volume spike accompanying this drop indicates significant selling pressure, suggesting that the bearish momentum might persist.
The 10 and 20-day moving averages are significantly above the current price, indicating a short to medium-term bearish trend.
The RSI is on the brink of entering oversold territory, which might indicate a potential for a short-term bounce. The CCI’s extremely negative reading also suggests the stock is deeply oversold.
The negative momentum indicators reinforce the bearish sentiment. The MACD is in negative territory with a widening gap between the MACD line and the signal line, further indicating sustained downward momentum.
Nike’s earnings have historically beaten estimates, with Q3 ’23 showing a surprise of +29.84%. However, the forecast for Q1 ‘24 shows an EPS estimate of $0.59 and revenue estimate of $11.87B. These projections, amid current market conditions, will play a crucial role in determining the stock’s near-term direction.
The sharp decline has been attributed to concerns over future earnings and potential supply chain disruptions. This negative sentiment is reflected in the “Strong Sell” recommendation from various technical indicators.
Key Support and Resistance Levels
Immediate Support Levels:
S1 (Classic): $66.86
S2 (Classic): $24.21
Immediate Resistance Levels:
R1 (Classic): $87.72
R2 (Classic): $130.37
Short Position
Given the strong bearish signals and the significant decline, a short position seems more appropriate at this juncture.
Entry Point: If the stock breaks below $66.86 with high volume, confirming continued bearish momentum.
Price Target: $50.00 (initial), with a potential to drop to $24.21 if the downward pressure remains strong.
Stop Loss: $75.00
Long Position
A long position should be considered only if there are clear signs of a reversal at key support levels.
Entry Point: If the stock shows reversal signals around $66.86 with increased buying volume.
Price Target: $87.72
Stop Loss: $60.00
Speculative Price Targets
Bearish Scenario
If Nike continues to face strong selling pressure and breaks below key support levels, the stock could test the $50.00 mark in the short term. Should macroeconomic conditions and company-specific challenges persist, a further drop to $24.21 is possible.
Bullish Scenario
In a bullish turnaround scenario, where support at $66.86 holds, and positive news or earnings surprises come into play, Nike could rebound towards $87.72. A sustained rally could see the stock attempt to recover towards the $100 mark, aligning with some of the longer-term moving averages.
Nike Inc. (NKE) is at a critical juncture, with strong bearish momentum currently dominating. While there is potential for a short-term bounce, the prevailing indicators suggest a continuation of the downward trend. Traders should consider shorting the stock if it breaks key support levels, with tight stop losses to manage risk. Conversely, a long position may be viable only on clear reversal signals and stabilization around significant support levels.
Nike- In a supercycle my thoughtsI believe that nke will come down to as low as 35 a share by the time the abc corrective wave is done. In a risk off environment.
This is not financial advice ,only entertainment purposes.
NKE FREERUNS TO THE LOWSWhen looking at the chart, we have a clear three wave structure coming down from the November 2021 high. That puts the current price action in wave C, with the question of where will wave C end. That said, institutional activity has left a clear roadmap with strong support at the .764 extension around $57, which should create a fresh low on the weekly RSI to start looking up again.
$NKE almost there…Reaching ‘vid levels, could see price dip under 70.
Great place for shares/options.
“I like the stock.”
NikePoor results mean Nike has broken out of a triangle pattern which started forming in March 2022.
Clean break down with large sell side volume.
NIKE - Just Do it
Looking for a long term long position.
Four years of gains wiped out.
Looking to retest COVID lows - look for a base before going long.
6/28/24 - $nke/$spy - these charts r important 2 learnon this friday i want to explain what i mean by NYSE:NKE on it's AMEX:SPY pair (we refer to things a lot in "crypto" vs. it's CRYPTOCAP:BTC pair - to be clear i don't chit coin much, i'm essentially maxi, but we come back to that in time k?)
in stonks, i think we can borrow something interesting from the "crypto" industry, which is looking at things on their high quality pairs. this eliminates the issue of time bias. e.g. do you measure YTD vs. another asset. do you pick the "covid" lows? when you divide things by other things, you eliminate this bias and see things more clearly. also allows you to spot outperformance better esp on small time frames.
the reason i show this chart is to zoom ALL THE WAY OUT. these are some long time horizon bars. i use fib to show some possible support zones.
- we have cv dip gaps that might get filled
- we have fib levels to think about
all in - 20-25% lower on an S&P that could do -10-15% is probably the max drawdown you're looking at here. not ideal. this is why i'd not recommend actually backing up the dip here. we need to be smart about trading $nke. however, this is by no means a dead company/ brand (actually quite the opposite). it's just the environment. hard to buck the trends when u r industry leader. easy when u have niche brand.
so what i'm suggesting is anything in the $60/shr is probably great value, if we get there. and i'd be backing up the semi if we go to low $60s, which i think is a 30% probability. but just set those alarms in trading view and go about your daily life until they get triggered if u don't need to own this.
practice doing $yourticker/ AMEX:SPY and $yourticker/ NASDAQ:QQQ and $yourticker/ BINANCE:BTCUSDT on every asset. it will help you understand how the market is thinking about everything as far as opportunity cost goes.
V
75: Analyzing Nike's Strategic Entry Points Amid Sales DeclineNike's latest earnings report revealed a significant drop in sales over the past three months, particularly in China and in the lifestyle and classic sneaker segments. Despite some gains in basketball apparel and running shoes, the overall sales figures fell short of expectations, leading to a substantial drop in Nike's stock price.
Our analysis indicates a critical point of interest at the pandemic low of $67.58. This level represents a potential buying opportunity for long positions, given our belief in Nike's capacity for future innovation and market recovery.
Nike has faced criticism for a lack of innovation, which has allowed competitors to gain ground. However, with the upcoming Olympic Games and potential new product releases, we see potential for a rebound.
Key factors to watch:
Sales performance in China and North America.
Upcoming product launches and innovation initiatives.
Impact of the Olympic Games on brand visibility and sales.
At $67.58, we will closely monitor for potential entry points for long positions, trusting in Nike's ability to innovate and regain market strength.
NIKE LongType 2 Bullish bat with three rising valleys.
If the three rising valleys does fail, we could head back to the support zone and have another chance for a bullish edge to form. If you wanted to accumulate shares of this for the mid-long term I'd say anything above the support makes sense, whether the trade set up fails or not.
NFA
6/24/24 - $nke - Setup long into print but I'm on bench6/24/24 :: VROCKSTAR :: NYSE:NKE
Setup long into print but I'm on bench
Quick comment on this softline bellwether.
- Look at "NKE/SPY" on trading view e.g. look at Nike as compared to the S&P "comp". Puts you back at 2013 levels. In other words it's been a pretty bad "money"
- recent result was weak/ consumer still yet to be cracking, and they'll really have to blow out of the water AND talk about how they're taking share
- on this taking share point - have you noticed all these co's beating NYSE:ONON , NYSE:DECK , NASDAQ:CROX etc. that aren't obviously true comps, but nonetheless - taking the core business and growing in other areas Nike can't directly address. I'm not an expert here, but from my arm chair this matters
- valuation is 27x PE... not "cheap". 3.5% yield and growing MSD at best is better cash - but again so are most A-tier brands.
So in sum i'd expect a beat but it's hard to see institutions backing up the truck and adding. Look what happened to NASDAQ:LULU , gave a lot of it back, didn't stick. Smaller co. Probably a better MT-LT grower (vs. NYSE:NKE ). Cheaper PE too.
It's tough for me to like this one into the results even if the chart looks like a good setup as this a. tape is rich/ toppy (for now - more on this later) and b. the stock has not been a good store of value so there needs to be an inflection in sentiment and facing this current consumer + being industry leader (so harder to "buck" the trend)... no me gusta mucho.
I'm on the bench, warming up for a better pitch.
Gl to longs. lmk if i've overlooked anything
V
Nike MonthlyHistorical upwards momentum for Nike drying up.
Just do it!
#nike #nke
Rarely has this stock been below 12 month, 36 month AND the Ichimoku cloud
$NKE still displays an uptrend in its monthly chartIn 2024, **Nike** continues to lead the sportswear market in China, with **46.2%** of consumers purchasing from the brand¹. **Adidas**, on the other hand, was chosen by **32.4%** of consumers¹. This data indicates that Nike is more popular than Adidas in China in 2024. However, it's important to note that both brands are facing increasing competition from local brands and changing consumer preferences, particularly among Millennials and Generation Z, who show a strong preference for domestic brands and products that incorporate traditional Chinese culture and style². Despite these challenges, Nike and Adidas continue to be among the top sportswear brands in China¹².
Source: Conversation with Copilot, 6/27/2024
(1) In data: Nike, Uniqlo, Adidas among China consumer favourites. www.just-style.com
(2) Nike dominates Chinese apparel market for now, but ‘Guochao’ is .... www.imd.org
(3) Why Nike and Adidas no longer dominate in China - NextShark. nextshark.com
(4) How Nationalism in China Has Dethroned Nike, Adidas - Bloomberg.com. www.bloomberg.com
Just do it or just don’t do it?Nike is one one of the most recognisable brands. A staple name, the biggest sports and apparel brand in the world. So what’s gone wrong and why has the stock suffered of late?
If you look back at the chart on a 6 month interval you will see that the price has remained in a constant uptrend since it was listed. In fact this trend line dates back to 1981 folks. Whilst Nike does dip below the trend line, it managed to find its way back and bounce of it. That was until recently, particularly today where they failed satisfy investors that their turnaround story is still in tact.
Blame China, blame brands like Hoka. None of that really matters. My concern is with the price. I suspect we drop to around $78 to fill the gap and continue to grind back up. If that fails, get out as there could be a larger drop.
So should you do it, or should you not? Of course this isn’t financial advice but Nike isn’t going anywhere. So be patient, don’t FOMO in. Dca down and be patient. More importantly DYOR
NIKE Downtrend Line Rejection At $97.76. 27.06.2024- Identified a downtrend line rejection on the 4-hour chart of NIKE Inc (NYSE: NKE) around $97.76.
- If rejection holds, anticipate a potential decline to $90.91, with further downside potential to $82.19 upon breaking below $90.91.
- Conversely, if rejection fails, expect a possible move upwards to $103.15, with potential continuation to $107.39 upon breaking above $103.15.
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Disclaimer
Bullish Momentum on NKE Aiming for $108-$121 TargetsAfter a thorough analysis of Nike, Inc. (NKE) on the charts, I've observed that we're currently in an upward trend, indicating strong bullish momentum. This analysis is grounded on several technical indicators and chart patterns that suggest continued growth potential in the near term.
Key Highlights:
Current Trend: The stock has been exhibiting a robust upper trend, with price action consistently forming higher highs and higher lows. This trend is supported by strong trading volumes and positive market sentiment towards the company.
Target Levels: Based on the current momentum and technical indicators, I'm targeting the $108-$121 price range. This range is identified by analyzing historical resistance levels and the gap down areas that have now turned into potential targets as the stock moves upwards.
Technical Indicators: Several technical indicators support this bullish outlook. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, while the Relative Strength Index (RSI) remains in a healthy range, avoiding overbought territory. Additionally, support levels have been rising, further reinforcing the stock's strength.
Gap Down Areas: The specific focus is on the $108-$121 gap down areas from previous trading sessions. These gaps represent potential resistance turned support levels, offering an excellent opportunity for gains as the stock aims to fill these gaps in its upward trajectory.
Conclusion:
The combination of a strong upper trend, supportive technical indicators, and the aim to fill the gap down areas provides a compelling case for bullish positions in NKE. While the market remains unpredictable, the current technical analysis suggests that NKE is on a path to potentially reach the $108-$121 targets in the upcoming sessions. As always, keep an eye on market news and be prepared to adjust your strategy based on new information.
Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your research and consider your risk tolerance before investing in the stock market.
Dr SAUD
NIKEReasons for execution
1)PML & PWL LIQUIDATED
2)+BOS
3) 0.382 Fibonacci
4)Monthly +OB
5)1.618 Fib Expansion
$NKE | Wedge + Triangle BreakoutNYSE:NKE broke out of a bullish falling wedge. Expecting a strong push to the upside.
Targets somewhat align with arrows, but expecting 110, 115, and then previous highs 120-125
Invalidation below $88
Current Contracts:
8/16 105C
9/20 105C
9/20 110C
10/18 110C
11/15 105C
11/15 110C
