NKE 1YR Support TestGood R/R setup with the long term uptrend support line. Currently 7.5% below ATH.
NKE
THE WEEK AHEAD: NKE EARNINGS; CRON, IQ, NTNX, EWZThis post is going to be short work, since there aren't many earnings in play for next week, and non-earnings premium selling is somewhat limited ... .
NKE is the only earnings that comes up on my radar for next week (announces on Tuesday after market close). While it has an implied volatility rank of 72, its 30-day isn't exactly "doing it" at 29%. That being said, the slightly short delta, 68% probability of profit, Oct 19th 80/90 short strangle pays 1.72/contract at the mid.
Other top implied volatility underlyings include CRON at 140%, IQ at 60%, and NTNX at 54%, but these underlyings aren't the best in terms of expiry and strike availability, which can make for headaches if you need to roll. I've already experienced some of this in a CRON play; there was no November available after the October monthly, so had to roll all the way out to January, which can be a drag if you're less than the patient type ... . I pretty much knew that it could be a headache going in because of oddball expiry availability, but couldn't pass on the juiciness.
On the non-earnings front: "The Brazilian" -- EWZ continues to be frisky (but not quite as frisky as it was) with a rank of 69 and a 30-day of 47%. The November 29/40 short strangle camped out at the 21 delta has a probability of profit of 70%, break evens of 27.35/41.62, and pays 1.65 -- not bad for an extremely liquid $34 underlying.
Short NKEUnless it breaks above this wedge really hard, I'd stay short from here on out.
No amount of fluff news pieces about how online sales have soared since the controversial NIKE add came out can hide the truth that this stock is technically hosed.
Damn you KaepernickWicked H&S forming, bulls struggling to break previous support $82.5 level, now tough resistance
NKE bull flag breakoutAfter consolidating for a month after a big earnings beat Nike looks poised to breakout out of the bull flag.
Nike's Head and Shoulders!This is a bit of a tricky one because the World Cup is just around the corner. You'd think investors would be optimistic at the prospect of Nike's exposure on the largest sporting event in the world. Looking at how the price has trended it might be that all of that optimism might've been priced-in already and it's the pull back in anticipation of the end of the event. That being said, whatever the reason there's looks to be a clear head and shoulders forming meaning there might be a pull back on the horizon.
The preliminary strategy for now, at least unil I can find more evidence over the weekend to the contrary, would be to short the stock and place the stop just above VWAP. Afterwards, I'm looking for evidence around the first indicated resistance level (royal blue) at $ 73.82 to cover the short. I'll do the same at the next resistance level (light blue) at $ 72.96 but by then there must more evidence to support the short but that's light years from now in trading time. But for now we'll rely on the evidence we have that is the MACD using the Ichimoku conversion line as the moving averages under analysis.
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NKE 5-Day Ahead Prediction 04/30 - 05/04 PeriodArtificial Intelligence/Deep Learning Enabled 5 Day Ahead Predicted values for Nike Inc ( NKE ) have been plotted on the chart.
The method used in this prediction is Deep Learning/Artificial Neural Network based, and using complex mathematical models/methodologies to analyze and extract hidden time series features in vast amounts of NKE related data. The "trained" and optimized neural network then generates the multi-day ahead predictions which are plotted on the chart and given in the explanation below.
The expected 5 Day Change is 0.911 %
Predictability Indicator is calculated as : 0.689
Predicted 5-Day Ahead Prices are as follows:
Mon Apr 30 Tue May 01 Wed May 02 Thu May 03 Fri May 04
70.588 70.632 70.343 70.191 70.194
Please note that outliers/non-linearities might occur, however FinBrain's Artificial Intelligence/Deep Learning Enabled predictions indicate the softened/smoothed moving direction of the stocks/commodities/World Indices/ETFs/Foreign Currencies/Cryptocurrencies.
Daytraiding with Nike. Triangle Setup
We enter the breakdown, the levels will be fixed later, now it is the edge of the ascending Pitchfork Andrews
NKE BreakoutLooking to take the retest from today's Bullish Retest Gap through 2016 previous resistance. NKE could be a scorcher here...
Potential Double TopHi guys. We have a potential entry set up in NKE. This is still very premature to short but it's worth adding this stock to our watch list. A strong breakout will be a reason for a long position but please notice the strong divergence which will favor a humble short set up. Thank you very much indeed.
S&P500 SHORT! Short term trade! Daily chartThe end of each year ended in a small dip.
Besides this pattern the RSI looks like it needs a small break and return to lower levels.
The MACD forecasts is high and shows a bearish move.
I will keep this short position at most 10 days!
NIKE (NKE). Another drop after sideways correction.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).
Foot LockerRetail in general battered. FL down from $80 to $30... think ultimately we head sub $30 but looking for a bounce here off support into earnings.
Nice juicy gap up into $47
Under Armour- Eyeing bottom channel Log scale- eyeing the bottom of the channel for a long w/ stop below.
Positive Divergence Alert for NikeShowing signs of a bottom here, load up for 10% upside in a couple months
Sep 26 Earnings: Nike - Reversal in PlayAfter 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 sales beat and that the company will up their FY guidance.
I have a $58 to $60 PT for the post earnings move, lasting 30-60 days.
NKE Bullish PennantLooks 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.
Inverse head and shoulder + Bullish Pennant Bullish long and short term. Inverse head and shoulders from past several weeks has played out well. Still waiting for PT ~$21 and even higher if we break resistance with volume. Bullish pennant also points to same PT area.
Resistance Zone - Preparing for earningsNKE 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
