NKE having a hard time making a new high after the pop from earnings Nike trading sideways with a $11 gap to the downside starting at $115.39 that a lot of trades would love to take
NKE has perfectly completed cup and handle pattern and has started to go higher. Perfect time to long in my opinion. I have mentioned my entry, stoploss and take profit levels. You can share your thoughts, give suggestion or ask any questions in the comments.
Supply Chain issues. Factory closes in Vietnam due to Covid-19. Analysts are expected for the company to lower the sales guidance because of this. Considering the head and shoulders bearish chart pattern, my price target is 140usd.
Nike reporting an 11% decline in North American sales in FQ3; however, it is currently in a rectangle that should protect against excessive falls. There are many supply problems, but the analysts continue to see it as bullish. Resistance should lock the price as the price is still far enough away. It should touch that strong resistance in an oversold...
Bearish Engulfing + Wedge+ Bearish Divergence indicating a deep drop with NKE we just need breaking down the upper trend on weekly chart for the confirmation, it would be nice to hold an option put position
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... DOW JONES Index incl. all 30 Shares (2016 Yearly Performance) @ drive.google.com Best regards Aaron