NIKE: Bullish Flag, Possibly Beating Earning Estimate Again?Price Action Analysis on NIKE, Inc
On the Daily Timeframe, NKE is moving above EMA90. NKE is breaking out of the bullish flag pattern, indicating a possible bullish bias ahead. The Stochastic made a bullish divergence, signifying a possible upside movement to the target area.
Fundamental Drives
- China sales rebounded further due to ending its zero covid policy.
- Improving earning report, potentially beating earning estimate again.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the NKE"
NIKE80 trade ideas
Nike Inc. (NKE) bullish scenario:The technical figure Falling Wedge can be found in the daily chart in the US company Nike Inc. (NKE). Nike Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022. The Falling Wedge broke through the resistance line on 17/03/2023. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 6 days towards 123.99 USD. According to experts, your stop-loss order should be placed at 115.87 USD if you decide to enter this position.
Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with designer and rapper Kanye West which caused the German company to lose about $600 million in quarterly sales.
Nike is also expected to get a boost from higher sales of its Jordan Retros and some newer launches as the world's No. 1 sportswear maker stays ahead of rivals through its innovative product lines.
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$NKE Broadening formationNot financial advice.
$NKE currently heading to the top of broadening formation. Earnings tomorrow!
Possible Gap up in the morning to finally get to the top of broadening formation but cautious since it might get rejected there and try to fill gaps on the green on the current weeks.
Thanks Alex!
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NKE NIKE Options Ahead Of EarningsIf you haven`t sold NKE here:
or reentered here:
Then you should know that looking at the NKE NIKE options chain ahead of earnings, I would buy the $115 strike price Puts with
2023-3-24 expiration date for about
$2.40 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
SHORT NIKE.NIKE seems to be loosing its bullish momentum after breaking below a major support to what appears to be a retest (or bear flag) to continue to the downside. This can be supported by the smaller time frames (15m) price action as price is failing to make higher highs and is failing to break and close above what is now resistance. Gaps usually are filled but sometimes the levels created by the gap can cause a bounce so be cautions if shorting early and or have runners prepared incase the gap decides to fill.
NIke final run!FA is strong but can this thing leave thru all the bad bubbles without being punished eventually..... well i believe so lest speculate this into a bearish trend up to 127-900 dollars....why not amazon and apple did....and i hate apple... yet its price soars... nike cant be worse than apple in any means at all... as far as consumers go...
Nike Pulls Back Before EarningsNike pulled back along with the rest of the market last month. Is it creating opportunities with quarterly results later in March?
The first pattern on today’s chart is $116.75. It was the low a year ago and near the high in mid-August. NKE paused there in December before continuing toward $130. The athletic-apparel stock is also bouncing above the same zone today.
Next, the latest pullback dragged stochastics to an oversold condition, from which the oscillator is now rebounding.
Third, the 50-day simple moving average (SMA) rose above the 200-day SMA in mid-January. That kind of “golden cross” may suggest NKE’s longer-term trend has turned positive.
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NKE is going to fall until at least FebruaryNKE Bearish channel; inside week from Dec 5 to 9, and then outside week from Dec 12 to 16. Today (Dec 19) it broke below last week's low ... this is now the third week in a row of lower-lows.
Is it possible that it rallies and goes for a second outside week?
Anything is possible, but it is also up against the bearish channel on the upside. There is very little support on its downside however ...
Looking to go long - PT 135Bullish Bias
1. Break above monthly resistance & above monthly 50 EMA
2. Break above weekly resistance & 50 EMA, 100 EMA, 14 EMA
3. Break above trendline
4. Inverse H&S formation with a retest of the neckline on the daily forming a potential falling wedge
5. Golden Cross - 50 EMA cross above 200 EMA
6. Above the Ichimoku on the daily
#NKE bullish weekly reversal @ yearly pivotHello dear Traders,
Here is my idea for #NKE
Price closed above yellow line
Targets marked in the chart
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
$NKE Short, clear divergence of RSI, and 9/21 crossover.Ticker: $NKE
Investment Strategy: Short
#RSI divergence from oversold
#Crossover of 9ema and 21 ema.
#MACD crossover and divergence.
Fundamental analysis:
Nike, Inc. (NKE) financials that may be helpful in conducting a fundamental analysis of the company:
Revenue: Nike, Inc.'s revenue has been steadily increasing over the years. In 2020, the company generated revenue of $37.4 billion and in 2021, it generated $39.1 billion.
Earnings: Nike, Inc. has been consistently profitable over the years. In 2020, the company had net income of $3.8 billion and in 2021, it had net income of $4.2 billion.
Dividends: Nike, Inc. has been paying dividends to shareholders. In 2021, the company paid dividends of $2.2 billion.
Debt: Nike, Inc. has a significant amount of debt. As of December 2021, the company had long-term debt of $8.2 billion.
Market Capitalization: Nike, Inc. has a market capitalization of $152.3 billion as of January 26th, 2023.
P/E ratio: Nike, Inc. has a P/E ratio of 34.7 as of January 26th, 2023, which is higher than the industry average.
Business Model: Nike, Inc. is a multinational corporation that is engaged in the design, development, and worldwide marketing and selling of footwear, apparel, equipment, accessories, and services.
Note: Please note that this information is for educational purposes only and should not be considered as financial advice. It is important to conduct your own research and consult with a financial professional before making any investment decisions.
Nike extends gains Nike's stock (NKE) kept rising in the intraday levels, buoyed by positive pressure from the 50-day SMA, and amid the dominance of the upward correctional wave in the short term, with negative signals from the RSI after reaching overbought levels, hurting the stock's movements.
Therefore we expect the stock to rise and target the resistance of 138.65, provided it settles above 118.47.
NIKE SHORTA historical third wave has ended, and its length is less than one historical wave, because the extension occurred in one wave. Currently, we expect that wave 4 will be made in any area of the above, and then a fifth wave will be made that will be less in height than wave three, so that wave three does not become the smallest of waves, of course, according to the rules Eliot
NKE | Long with Bullish Bias - Continuation Bullish Pannent Spot#Week10-11-Strategy-1&2
BULLISH INDICATOR (DEC 30)
1. On Daily Bullish trend with HH and HLs
2. Daily price action is respecting the bullish trending channel
3. On the 1h Chart Bullish Pennant continuation pattern was spotted. It is sideways but a bullish trend is expected to follow.
4. Price action is expected to stay sideways between FIB level 78.6% and 100%
5. Price action is testing a significant Resistance zone from daily charts between 116-118. If broken then bullish expected
6. RSI does not show any divergence.
BEARISH INDICATOR (DEC 30)
1. Price action is testing a significant Resistance zone from daily charts between 116-118. So either it will stay sideways for the reverse for some time.
PREDICTIONS
1. Due to the Bullish Pennant continuation pattern, the price is expected to stay sideways for some time before continuing the Bullish trend.
BIAS 1 = LONG - PLAN 1 (Buy @ Market price)
BIAS 2 = SHORT - PLAN 2, (if PLAN-A SL1 hits then anticipate to SHORT @ market price after re-checking the bearish indications)
TRADE PLAN
————————
PLAN A: LONG @ Market price
EN1: 116.24 (@ Market)
SL1: 112.38
TP1: 119.85 - RR: 0.8 - Lt: 0.5
EN1: 116.34 (@ Market)
SL2: 110.12
TP2: 125.45 - RR: 1.4 - Lt: 2
PLAN B: SHORT
If SL1 of PLAN A hits, signaling reversal, Enter slightly below SL2 of PLAN A
EN: 109.2
(Re-Check Values Again before entering the trade)
SL1: ?
TP1: ? - RR: 1.0 - Lt: 0.5
SL2: ?
TP2: ? - RR: 1.4 - Lt: 2