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NKE trade ideas

buy a fresh pair of nike sneakers or you can trade it.I have decided to start trading nike instead of checking out the latest fresh sneakers. Im using basic technicals analysis to try and see if i can test the pulse of the asset. According to news ( found on tradingview.com ) this asset is looking bearish but only the monday open and close of the day would determine if my analysis is correct or does my strategy needs abit more fine tuning Nike should be dropping but im waiting for the asian session to create inititial high and low and that will be my confirmation. Follow up post to confirm entry . Stay tuned WaveMakers.Inc
NYSE:NKEShort
by Wave_Makers
Nike - A SneakerHeads TA We're expecting a slight retrace in the whole market as it takes a breather from the crazy run it has had since the pandemic started. RSI levels went through the roof, the market is trying for a V shaped recovery, but we have what is expected to be the worst earnings season ever a few weeks out. Until then we'll most likely be jumping in and out of positions for quick swing trades. Taking a look at Nike. It has proven time and time again to be wary of shorting stocks with cult like followings (Apple, TSLA, Amzn, NFLX). Even when the numbers disappoint, consumers continue to use these stocks and praise the product defying financial statistics. Nike is no different and the SneakerHead following proves this. Even if we see a drop coming we would expect the cult to buy the shares back up. TA: With the above being said, looking at the TA, for the moment we'll be looking for a quick swing trade entry loading up between $90-$94 region with a tight stop at $88.50, taking profit at the $104 range where we got our most recent resistance. We see Nike has been holding the 55MA, RSI has fallen back into neutral territory, and the DMI and the TTM appear to be gearing up for a squeeze. Hit us with a like and a follow for more updates. Cheers! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYSE:NKELong
by MannyLo
1