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NIKE34 trade ideas

Nike Showing Us They Can Just Do ItWith an average volume of 6.3 million, Nike Inc is continuing to soar to new heights in the markets which is probably spurred on by sales being up 41% in the first quarter of 2019. Looking at the technical side of things, we can see from the weekly chart that price has been clearly trending to the upside over the long-term. Price was in a strong bull trend from March 2009 from a low of $9.56. Over the next 6 years, price catapulted over 590% making easy returns for investors holding onto Nike Inc shares over this period as price reached $68.19. With every huge trend, there will come a period where price will become exhausted and either pull back deeply or enter a long period of consolidation. This will generally take place before price resumes the trend or may even result in a complete reversal. In this case, price entered a long period of consolidation lasting 2 years and 5 months from December 2015 to May 2018. The consolidation was held up by using support in the form of the $50 round number, which is a psychological support zone. As mentioned, long periods of consolidation usually follows huge trends, the same is true the other way round. Huge trends usually follow long periods of consolidation. We may just be at the early stages of a strong bull trend in this stock. When price broke out in May 2018 we saw a strong move to the upside, then price pulled back sharply and retested resistance turned support in December 2018. This support level gave price a push up once again and has since been creating higher highs and higher lows. The 50 sma has been used as support along the way which also helped price escape from the recent consolidation zone breaking above $90. Nike Inc is now creating new all-time highs and may continue to climb for some time. One thing to bear in mind is that we have the $100 round number which is a strong psychological support/resistance zone. We may see price comfortably move through this level or reverse at that point or go into consolidation. We can never predict how price will behave, so it’s best for traders to just wait for price to break through $100 before looking for long opportunities. Price is just over 500 points away from $100 so we may not have to wait too long before buying shares. As always, keep it simple, keep it Sublime.
NYSE:NKELong
by Sublime_Trading
2
NIKE Price actionNike The stock is flying and just making higher highs since first quarter of 2017 , we see some consolidation in 2019 second quarter , however it ended with strong bullish candle and touched all time highs. Technically 1. We see a week double top , with not much significance 2. There is clear divergence in price and RSI , which shows price can reverse 3. Also its now at the upper boundary of the upper trend line with double top it might open lower on Monday Fundamentally 1. Nike is launching extraordinarily products 2. Their marketing strategy is just awesome 3. With a recent big success of INEOS 159 Challenge their product sales will get a good boost
NYSE:NKE
by ChiranjeevChhabra
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.
NYSE:NKE
by Elliottwave-Forecast
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.
NYSE:NKELong
by Tradingstrategyguides
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!!!!!
NYSE:NKEShort
by awunkhaus
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
NYSE:NKELong
by Bullishcharts
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!
NYSE:NKEShort
by UnknownUnicorn2339202
2