NKE trade ideas
Nike analysisSell off from all time highs through the uptrend line, still waiting for a price to go lower to 61.8% fib, which is also previous support buy zone for a long and 100SMA for a better setup.
NKE Long Term Short$NKE looks like an amazing short based on the monthly LOG chart... Has a very clear ascending wedge that looks like its just about to breakdown. Additionally, there is a TRIX/MACD bear cross as well as a bearish divergence on the RSI! Good luck!
Nike, The largest rising wedge you have ever seen?Nike is about to break down from an enormous rising wedge. Just take a step back and look at the growth of the stock market from 2008, a recession is in the works, and it will not be pretty.
Good luck trading
-Trader A
NIKE: EXPANDING TRIANGLE FOR ONE MORE DOWN?Nike seems in the middle of a correction. Looking to the previous gap up it could be going for the completion of an expanding triangle. If it fails on the break of the upper trendline i'm expecting one more wave down.
NKE: Earnings Out of Season, Topping with Strong SupportNike, the icon of footwear, reports today out of season which is not a good sign for earnings. The stock is not being traded heavily pre market, however, so the retail crowd appears to not know about this earnings report yet. The stock has already hit an extreme deviated peak in its business cycle after a fast-paced speculative run out of its prior bottom formed in 2016-2017. This stock is more fortunate than others. It has strong support close to its current price. The Cycle indicator has headed down to the center line and the stock should trough sooner than later. This is a weekly chart so you can see the support level easily. This stock is not a good candidate for a sell short due to this support.
NKE H&SNKE looks weak in today's rally, earning coming up tomorrow after close. Apparel has not done well this earnings season, declining margins. NKE is no exception. Revenue increase has primarily been overseas, and the Chinese economy has taken a hit this fall.
Going over the numbers, P/E ratio is over 25 (adjusting for the big tax hit), dividends 1.75%. Overvalued regardless of this earnings, expect this to wind up in the low $60's after earnings.
If you want a cheaper play than NKE puts, try UAA or XRT. You can even do a vertical spread tomorrow afternoon on weekly puts on either one to limit your exposure. If NKE goes down, I expect the whole sector to go down on Friday. Both UAA and XRT have room to drop to next support.
90 days negotiationTariff negotiation gives way to an upside until Q4.
Just do it. It's December anyway. PT new 52wk highs.
Nike Short (Daily)Stoch RSI well oversold, looking to bearish cross
Reached .5 fib retracement as well as near top of bband
Volume not convincing, but not "bad" either
Expecting slight move upward to ~$79 before retracement to ~$75, and possibly further down to bullish OB @~$72.50
Selling NIKE sharesOn the daily chart of Nike shares a bearish signal was formed - "Saucer" (beginning of the red zone one the AO indicator). Also, according to Elliott waves structure, the 5th wave should complete the current bearish trend. Going short in case of yesterday`s low breakdown.
Nike short on retracement pullbackLong rising trend line broken
Sellshort on pullback at 61.8% retracement
Trend Indicator on NIKEIn the chart of NIKE , in a one hour time frame, we can see that the bearish trend line has been broken and a good sign of that is that prices broke the moving average of 50 , so we can expect a change in trend.
Nike Inc - Daily - Just "Sell" It ?Trade Alert
It not be too late yet to catch a bit of that downside move. The stock has now shifted below the 200 EMA, which could be seen as bearish sign, at least in the near term. Also, the share price keeps forming lower highs, which is also not supporting the bullish scenario for now.
Please review the chart for the potential target levels.
Always have your SL in place.
Bearish gap fill then bounce for Nike (NKE) stock?Looks like the Nike (NKE) stock price is coming down to fill the previous gap, at which level the RSI will be very low, and should result in a bullish reversal.
Let me know what you think in the comments.
Like this idea if you agree.
Trade IdeaTrade Idea is Nike (Long Position)
Not anticipating new high so along with the long position is to sell calls at strike price of $82.50 or $85 to pocket some premium
Entry is 76.38
Initial Target is 78.80
Second target is 81.46
Stop is 73.58
