Market Observations: NKE has decisively broken its previous downtrend, establishing a higher high. This bullish breach was further fueled by a liquidity run targeting sell stops below the recent triple-bottom (equal lows). The strong momentum accompanying this breakout signals a potential buying opportunity.
Trade Strategy: Target a buy entry upon a retracement...
Potential C&H is forming on Nike.
It's definitely too soon to execute trades based on the week upside in the last few days. We need the price to break above the Resistance of the previous M Formation.
This one requires a bit of patience because anything can happen at this rate.
Either it can form a C&H, W Formation, Scallop. Or it could fail and drop further if...
Nike - Short Term - We look to Sell a break of 143.08 (stop at 148.92)
Posted a bearish Flag formation. A break of 143.00 is needed to confirm the outlook. Closed below the 20-day EMA. The bias is still for lower levels and we look for any gains to be limited. The primary trend remains bearish. Daily signals are bearish. The sequence for trading is lower lows...
$NKE. After selling off a bit, it has nicely rebounded from it's .236 Fibo (see also BUY signal).
It's trading in range just above it's POC (point of control), bouncing off the .786 Fibo retracement.
With ER on 3/18, we can expect an earnings run-up, will face resistance at $150, $152 and $156.
I'm long on Nike.
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Short term Elliott wave view in Nike (NKE) calls the rally from June 3 low unfolding as a 5 waves impulse Elliott Wave structure. Up from June 3 low, wave 1 ended at 78.58 and wave 2 pullback ended at 77.58. Wave 3 ended at 84.23 and subdivides as another impulse structure in lesser degree. Wave 4 pullback ended at 82.47, and wave 5 ended at 84.38 which also...
Thank for viewing,
Disclosure; I haven't been tracking Nike until a couple of days ago and thought I would post this to see if I can get some feedback. I am not presently able to short trade this share so am just watching for now. I was drawn to it by recent news about presumptive Np.1 NBA draft pick Zion Williamson's and minor injury caused by a Nike shoe...
Take care
& analyzed it again
- it`s always your decision ...
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This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
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Best regards
Aaron
