Nike is in a large flat correction (WXY), it lasts from Y2015 and could finish only as early as next year.
Another drop down in wave Y would finish it.
Target = white rectangle = 49.01 (end of wave W) or 42.13 (Y=W).
After several lackluster quarters on behalf of soft North American sales, the company's strategic efforts have regrew sales potential.
Strong growth in Emerging Markets and its eCommerce platform - Nike.com, expected to top $2B in sales contribution, have boosted overall sales growth.
I believe the company's strategic efforts will results in an easy earnings and...
I have read alot of good things about Nike and its been on my watchlist again since the last earnings report. I saw alot of people recommending to buy it around 60$ but in my view it was simply too expensive up there.
Now that we got this gap lower, in reaction to bad foot locker earnings i am using this dip to buy Nike with a tight stop below the last swing...
Looks like a bullish pennant has been forming over the last few weeks since the gap up at the end of June. Clear resistance and support lines converging, I'm expecting it to breakout and follow the bullish trend. Looking at a price expectation at around 63.00 in the future.
NKE bullish run started following the completion of a bullish Bat and re-test of a broken channel.
Now NKE reached a weekly resistance zone.
Here are two scenarios to monitor towards earnings
Nike ($NKE) Daily: Nike after enjoying a HUGE run up to this point, appears to be finally catching up to the overall weakness in the retail industry. We can see from this daily chart, that it started to make a series of lower lows and lower highs after posting an all time high in price around December of 2015. The stock could have moved higher after this...
Beautiful 4 month long bottom formed. Looking for a retracement-type of move into 20$ /19.50$ for a long entry targeting 24$ / 25$.
Stop should be below 18$. Nice risk:reward.
Blessings to you all.
On April 25, 2017, the Nike ( NKE ) 100 day moving average (DMA) crossed above its 200 DMA Historically this has occurred 19 times with a minimum gain of 0.495%. It has a median gain of 6.655% and maximum gain of 24.969% over the next 12 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 46.5981. RSI tends to...
Here we have Nike, coming back to the L-MLH.
To me this looks like a gift from the trading gods.
I sell ITM Puts and buy more OTM Calls.
If NKE drops out of the L-MLH, the party is over for me.
P!
NKE is one of the stocks that have the least bull momentum, even when the Dow its posting new highs week after week. The correction of more than 1% today in the indexes can tell us that we may have a small correction ahead of us. I like the set up for a short position in Nike.
NKE plays on major support level.
Price Action and Fork confirmed so I set up my RiskReversal.
Earnings ahead...I can take it.
Worst case would be to own the stock if all goes bad and I get assigned.
I then would just sell covered Calls/Puts to bring down the cost basis (entry point of stock).
The WWTGT would be a WolfeWave target, which is exactly the...
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
DOW JONES Index incl. all 30 Shares (2016 Yearly Performance) @ drive.google.com
Best regards
Aaron
Monthly indicators look beautiful for NKE, as well as the weekly ones.
Right now would be a great time to enter and expect a nice and steady growth throughout the channel I've made,
Technically Speaking
Nike is holding support at $50. A break below $50 could target support at $42.50-45.
I do not own NKE. I own UA, and their chart looks very similar.
Will the $50 level hold?
No one knows, the question is whether you believe the R/R is attractive and how much are you willing to risk to find out.
I am holding off for now, but will look...
