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NKE

NOW - Can we get some service now please?Let's see, earnings after market close, recent analyst downgrades over last week or so, & CEO just left to take over at NKE . What does the chart say? You may have a head & shoulders pattern but that right shoulder is a bit ugly. If you do believe it is an H&S pattern, then the price target is $198.30 which would take the price back to fill the gap from January 30th. From a Fibonacci extension perspective, the price is currently around the 100% level while hitting support from the gap up back in January. This could be an ideal area to see a bounce before any continued declines. New CEO claiming they want to be heavy on acquisitions so take what you will from that.
NYSE:NOWShort
by Chartimistic
Nike Showing Us They Can Just Do ItWith an average volume of 6.3 million, Nike Inc is continuing to soar to new heights in the markets which is probably spurred on by sales being up 41% in the first quarter of 2019. Looking at the technical side of things, we can see from the weekly chart that price has been clearly trending to the upside over the long-term. Price was in a strong bull trend from March 2009 from a low of $9.56. Over the next 6 years, price catapulted over 590% making easy returns for investors holding onto Nike Inc shares over this period as price reached $68.19. With every huge trend, there will come a period where price will become exhausted and either pull back deeply or enter a long period of consolidation. This will generally take place before price resumes the trend or may even result in a complete reversal. In this case, price entered a long period of consolidation lasting 2 years and 5 months from December 2015 to May 2018. The consolidation was held up by using support in the form of the $50 round number, which is a psychological support zone. As mentioned, long periods of consolidation usually follows huge trends, the same is true the other way round. Huge trends usually follow long periods of consolidation. We may just be at the early stages of a strong bull trend in this stock. When price broke out in May 2018 we saw a strong move to the upside, then price pulled back sharply and retested resistance turned support in December 2018. This support level gave price a push up once again and has since been creating higher highs and higher lows. The 50 sma has been used as support along the way which also helped price escape from the recent consolidation zone breaking above $90. Nike Inc is now creating new all-time highs and may continue to climb for some time. One thing to bear in mind is that we have the $100 round number which is a strong psychological support/resistance zone. We may see price comfortably move through this level or reverse at that point or go into consolidation. We can never predict how price will behave, so it’s best for traders to just wait for price to break through $100 before looking for long opportunities. Price is just over 500 points away from $100 so we may not have to wait too long before buying shares. As always, keep it simple, keep it Sublime.
NYSE:NKELong
by Sublime_Trading
2
Worth the risk to short NKENKE is trading at a P/E of 35 while the industry is just 24.9, suggesting a price of only 62 instead of 87. At the same time earning per share per quartes hasn´t increased at all in the last few years, actually they are way lower than in 2013-2015 when the stock was trading at a price between 30-50, so how can we expect to keep going up? The ATH for the stock is 90 USD, so we are trading only at only 3% down from there. I will take the risk and going short from 87.3 expecting a decreased to at least 70 USD and a stop loss of 92 just in case it decide to test the ATH before going down. Today we will have new earnings comings, so we might start getting the decrease in price. Good luck traders!!!!!
NYSE:NKEShort
by awunkhaus
FOOTLOCKER LONG INTO EARNINGSWe have here a retailer with a P/E AND P/S that puts the rest of the market to shame. We HAVE to ask ourselves when do the value investors step in? I believe that question will be answered on AUG.23rd on the back of this companies earnings. They lowered expectations and with 60% of their sales coming from Nike and with Nike beating earnings this is a good bet. I see a 17% upside on the back of good earnings. Stop loss at 36, Take profit at 47. Good luck.
NYSE:FLLong
by cryptorichhh