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NKE 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