Well I'll keep this stock post to pure simple technicals. The tech's being that after pulling back throughout this week, and an accelerated intra-day selloff yesterday due to speculation of Nike being involved with the FIFA indictment by the U.S. Justice Department (I'll post a screen shot of a news wire in regards to this). Anyhow price has formed a doji...
The price is trading is in over boght levels, there is very high probability that it will fall from this levels you can see earlier that when price touched lower band it went up from that over sold levels, so better exit
I guess the earliest earning report will come from Nike! And in 6 days time, we will know whether the consumer is REALLY confidence.
Still, there is a need to prepare for at least two different outcome - 1. trade go in my way, 2. trade go against me
Based on yesterday's close and rejection by 8&20ema, i anticipate another big sell tonight. Then it will short of...
NKE has cropped up quite frequently on our breakout lists lately. It doesn't have a very linear history (pullbacks tend to be too deep for most risk management structures).
But since breaking above the $80 mark it has offered several opportunities to buy. The October pullback was not too deep, remaining comfortably above the daily 50ma. Once price broke $90 NKE...
Management strategy:
The greatest risk to this strategy is the announcement of the results of Nike, scheduled for September 25, 2014 If the value activates the entry point of the strategy before knowing the results, then we have to be cautious or reduce the position long in the profits or out of it altogether. Do not forget that we can always buy back the shares...
@Kazonomics - $NKE 1 Day
Looks good to the long side after brewing out of this year long consolidation.
Bullish Scenario. Breaks & Clears high of 82.79 for nice entry on its way to target of 87.44
Bearish Scenario: fails support at 80.20 and returns to consolidation range.
As you can see, price broke out today on strong volume. We could see higher prices in the coming days.
Company also has a decent dividend yield of 1.2%.
Continuation wedge indicates breakout above $80 as the first move of a new elliot wave.
Look to use the 100 day SMA as a stop to leave a comfortable potential profit/loss ratio.
