Will it crash to $50?Chart looks bearish with lower lows and lower highs. Once it goes below 80, high chance it could hit 50, may be by May 2024.
NKE trade ideas
NKE AnalysisMy analysis on NKE for the moment is that it's not a buy yet. It's been gradually going down for the past few months.
NKE SELL ++++NKE has a nice bounce on oversold conditions has stalled on resistance and should restest $96.50 support in coming days
NKE LongI'll let the chart do the talking here. Going long with calls tomorrow and will make a quick scalping.
OPPORTUNITY TO BUY NIKE ! daily analysisDear Investors,
Nike is showing a strong buying signal after good fundamentals this year.
this could be your opportunity to invest in a low-risk high-reward trade.
you can contact me for more info on why this is a good trade & give you a strategy on how to manage this trade and close it in the best scenario possible.
you can check my old trades too to get an idea of my trading mentality.
$NKE - Can it break out?NYSE:NKE Nike did a reversal from $88 (see prior post). It is currently trading inside a descending wedge.
If the price can break above $98, it can see further upside.
Here are the price targets:
$107
$110
$114
Downside risk:
$88
I am long.
NIKE: Repeating the 2022 decline unless it crosses the 1W MA100.Nike isn't on its best long term technical outlook being neutral on 1D but bearish on the 1W timeframe (RSI = 36.926, MACD = -4.740, ADX = 46.648). The four month pattern is a Channel Down, which if broken upwards should target the 1W MA50 (TP = 111.50). That's on the medium term because on the long term, the market needs to cross over the 1W MA100 (which has been closing weekly candles under it since February 22nd 2022), if it wants to restore investor confidence. If not, we risk a repeat of the August-September 2022 selloff.
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Inverse Head & Shoulder pattern for NKE If the price fails to rebound from current support level at 101.85, then it is going to revisit 89.10 and possibly form an inverse H&S pattern at 78 price level before rebounding. Buy in tranches as nobody can predicts how the market will behave
Long nike at pattern completion zone type 1 returnMassively oversold on the RSI multiple timeframes, Nikes not going anywhere folks, this so called recession still avoids us. Im in. Buying today.
NKE Entry, Volume, Target, StopEntry: with price below 96.55
Volume: with volume greater than 20.1M
Target: 87.57 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 96.54, 101.03 gets you 2/1 Reward to Risk Ratio.
This SHORT swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NKE NIKE Options Ahead of EarningsIf you haven`t sold NKE here:
Then analyzing the options chain and the chart patterns of NKE NIKE Options prior to the earnings report this week,
I would consider purchasing the 89usd strike price Puts with
an expiration date of 2023-9-29,
for a premium of approximately $2.13.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Deeply OversoldThis stock has taken some punishment as of late.
It is oversold but securities can remain oversold or overbought for extended periods.
Short is low at just over 1%.
Possible M pattern forming.
Earnings are Thursday AMC.
Perhaps earnings will be outstanding but retail does not seem to be in favor right now, and even dirt can get cheaper )o:
No recommendation
$NKE - Watch these areas for entry or DCANYSE:NKE is quite oversold. There are two possible areas for a reversal:
$88
$82
If you are waiting to BUY Nike, watch these two areas for signs of price stabilization.
The earnings report (ER) is scheduled for 09/28.
NIKE : Adding onto the positionNike, Inc. is undeniably a global powerhouse in the athletic footwear and apparel industry, boasting a strong presence in the S&P 500 and a legion of celebrity endorsements.
Pros:
Strong Business Moat: Nike's brand recognition, innovation, and global reach create a formidable competitive advantage. This moat suggests that the company can maintain its market leadership even in the face of competition.
Long-Term Potential: With its established brand and global footprint, Nike has demonstrated its ability to weather economic storms and remain a relevant player in the industry. This stability makes it a compelling choice for long-term investors.
Share Buybacks: While buying back shares at an expensive valuation can be a double-edged sword, it signals management's confidence in the company's future growth prospects. This can be seen as a positive indicator.
Premium Valuation: Companies with strong moats like Nike often command premium valuations, which can potentially translate into robust returns for shareholders.
S&P 500 Inclusion: Being part of the S&P 500 index gives Nike added credibility and attractiveness to institutional investors.
Celebrity Endorsements: Nike's association with celebrities and athletes not only enhances its brand image but also broadens its appeal among diverse consumer segments.
Low Net Debt: A healthy balance sheet with low net debt reduces financial risks and provides flexibility for future investments or acquisitions.
Cons:
Decreasing Gross Margin: Nike has faced challenges with decreasing gross margins due to factors like rising raw material costs, increased labor expenses, and escalating logistics and shipping costs. These issues can squeeze profitability.
Strong US Dollar Impact: Exchange rate fluctuations, particularly a strong US dollar, can adversely affect Nike's international sales and profitability.
Economic Slowdown: As a provider of discretionary products, Nike is vulnerable to economic downturns, which can lead to decreased consumer spending on non-essential items.
Competition: While Nike enjoys a strong position in the market, it faces niche competition from various brands, which can chip away at its market share.
Global Challenges: Issues such as geopolitical tensions, trade disputes, and supply chain disruptions can impact Nike's growth and profitability, given its global operations.
Conclusion:
In conclusion, Nike stands as a market leader with a solid business moat, global recognition, and celebrity endorsements. Despite some headwinds, including decreasing gross margins and economic uncertainties, the company remains technically sound and offers a compelling long-term investment opportunity.
Investors should be aware of the risks but also recognize that strong brands like Nike often navigate challenges successfully over time. If the stock's valuation becomes more attractive in the future, I might even considering adding more into the stock.
As of now my total holding in the stock has summed up to about 2.5% of my capital.
Earnings JournalAT A GLANCE
Simplistic Analysis: mean reversion/swing back to the centerline.
Earnings Anticipations: positive surprises for EPS & Revenues.
Trade Type: Touch & Go don't wait for a close.
Research Depth: technical glance only.
Nike, Inc. (‘NKE’)Shares of Nike, Inc. (symbol ‘NKE’) have managed to have an overall balanced performance throughout the quarter but have declined around 7% since the beginning of the month. The company’s earnings report for the fiscal quarter ending August 2023 is due for release on Thursday 28th of September , after market close. The consensus EPS is $0.73, against $0.93 of the same quarter last year.
‘ The company has a relatively positive financial image to display with the total assets outweighing the total liabilities at a ratio of 1.6 : 1 while the current ratio is at an outstanding 272% meaning that the company has the ability to repay its short term liabilities with the assets currently in possession. On the other hand the debt makes up for around 38% of the total liabilities which is generally not very good news for investors. ‘ said Antreas Themistokleous, trading specialist at Exness.
From the technical analysis perspective the price is trading below all the technical indicators of moving averages and the bearish trendline making the outlook in the near short term rather bearish. The faster moving average (50 days) is trading well below the slower one ( 200 days) further validating the bearish narrative for the company share.
On the contrary the Stochastic oscillator is in the extreme oversold territory while the lower band of the Bollinger bands could act as a short term support level. Both of this indications could point to a minor correction to the upside but nothing major at least for the coming sessions.
Nike is about to test strong supportNike is about to test strong support
This chart shows the weekly candle chart of Nike's stock over the past four years. The graph overlays the bottom to top golden section at the beginning of 2020. As shown in the figure, Nike's stock has hit its lowest point in recent years, hitting the 2.618 level of the bottom up golden section in the figure. The low point in October last year hit the 0.500 level of the bottom up golden section in the figure, and the high point in January this year hit the 1.618 level of the bottom up golden section in the figure! So, in the future, the bottom of the graph should be used as the dividing line for judging the strength of Nike's stock, which is 0.618 on the golden section!
Nike bull setup The primary idea here is to long the impulse move up from 81 to 130 usd in the retrace for a potential cell wave c/3
the alternative is that it is a new 1-2 setup
The wxyxz down could also be a new impulse but should be completed in a high interest zone and thus the trade should at least pull to breakeven even if my idea is not correct.
nfa
NIKE - BEARISH SCENARIODuring Nike's recent annual meeting, shareholders rejected a proposal from Arjuna Capital that called for increased transparency in pay equity data for female and minority employees. This proposal did not receive the required majority vote to pass. Nike has faced growing pressure for supply chain transparency, including calls to compensate workers in Cambodia and Thailand for COVID-19-related wage losses. Nike stated it hasn't sourced products from the Cambodian factory since 2006 and found no evidence of owed wages to Thai workers.
Cancel culture may play a crucial role in the future value of the shares as it already happened to a few Fortune 500 gains.
Target 107.79Following daily chart.
Got a long signal both of my indicators.
TP1 - 106.44
TP2 - 107.79
TP3 - EMA100 doesn't depend on price.
SL - Following indicator SL but under 97.37 daily close, you can stop also.
Nike Monumental Macro TA FindingsHi guys! This is a look into Monumental MACRO developments occuring in Nike stock market structure, some of which are happening for the 1st time in history.
For this reason and in my opinion, its a very important time to keep eyes on Price action.
The aim is to briefly go over what those developments are and what it may mean for NIKE's Current market trend. Hopefully providing insights for investors.
For this analysis, we are looking at Hieken Ashi candles on the 6 month timeframe.
Note that: Our current candle will close in January 2024. So it has alot of room to change by the time the candle closes.
Ive chosen Hieken Ashi candles to provide clarity in patterns of trend that occured in Nike's History.
Our major development is that we have broken down BELOW and confirmed resistance against our MAJOR MAJOR Historical Support Trendline for all of Nike's Market History.
This is the 1st time we have ever done this.
It warrents caution as this signifies Major Trend Change, perhaps even macro trend reversal.
While we were above the Spport line, we knew that everytime we came down we would atleast test that line.
Now that we are BELOW it, we need price to find the next support.
Currently ive highlighted by a Black Support Trendline, that very support area. We've maintained support since January 2020.
This line coincides with another black line that marks Resistance.
When combining these 2 black lines, we have ourselves a Symmetrical Triangle. That is very likely to play out sooner or later.
If we are able to break above it, it may be probable for us to get back ABOVE the MAJOR SUPPORT Orange line, continuing our Uptrend.
If we break below, further declines will occur. Further supporting the idea of a Major Trend Reversal.
We are also currently at 4 Red candles in a row. If you notice previous history, 4 in a row has happened only 1 other time. July 83 to Jan 85. And also notice that the 3rd candle of the sequence indicated market bottom with the 4th candle printing a higher low.
Can that be the case for us now? Maybe but things in the past don't have to repeat.
Being inside of the symmetrical triangle, 4 red candles in a row would warrant me to NOT take any investment positions.
In my opinion, if we break out on the upside of the symmetrical triangle and preferably get back above "Orange support line", would i consider taking positions.
I think as of now however, we are at best more likely to either move in a range/ sideways or see further declines as the worst case.
Why i think this, is because of the STOCH RSI.
Notice how we are below the 20 level with a bearish cross/signal.
The last time we did this, we were in here for multiple years which led to moving in a range for many years before continuing to make all time highs.
Within range our, price dropped from the top about 67% to bottom of the range.
If we continue the previous pattern, the same is likely. Hypothetically, we can also drop 60% to $70.00 level, which is a support area.
For that to not happen we would need a BULLISH cross ABOVE the 20 level.
Also notice the RSI, we are currently at the lowest level in all of NIKE history. We are also in an RSI range that coincides with sideways or range bound action.
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DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Nike - Bottom or ABC?Nike is close to an important level which will determine if a bottom formation is completed or a further slump will occur. Currently a DBW formation is build after almost perfect a Dopple Top Formation has been finished. Currently we are close to the 4 level, the current local low. The RSI is close to oversell, which support the turn around idea, which may result into a W formation whose execution would probably trigger the 5 and the DBW activation. On the bearish side a potential running ABC pattern can be found fitting perfect into the chart and the Fibonacci patterns.
