NIKE: Continuation of Bearish Movement Ahead, Short Opportunity?Hello Fellow Global Stock Investor/Trader, Here's a Technical outlook of NIKE!
NIKE has broken out of Ascending Broadening Wedge. Furthermore, The MACD indicator created a Death cross, indicating potential bearish movement ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/Resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the Stock"
NKED trade ideas
NKE - Strong Uptrend ContinuationGreen line shows the dominant bullish trend, this extends back for awhile
White line shows apparent downtrend, with a nice falling wedge to allow for the breakout to the upside and hence continuation
I expect price short term to rise back to dotted orange line, this is shown with bars pattern
NIKE - BULLISH SCENARIOThe downtrend for Nike Inc seems to be over. The American sportswear company got huge support at the $ 100 price level.
The 1st,2nd, and 3rd resistance levels are located respectively at $ 118, $ 130, and $ 140
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AnalysisHi! On this chart we are in an uptrend and we are not going against this trend. We will wait until there is the break of the support line and the vwap with strength by a large red candle followed by a large red volume to hope for a downtrend.
Moreover, we must not forget that we can also have a continuation of the trend if and only if the resistance line is broken with force by a large green candle and followed by a large green volume. Thanks.
Nike (pullback to make double bottom?)Looks like we may be entering into a corrective state of market structure. We have recently finished our second 5 wave impulse being that we are on a downtrend currently. We have been dealing with a bearish rally filled with good news from the media while there are still battles ongoing with rumors of war, inflation , supply chain issues etc. I could keep going but you get the point. Smart money is still being strategic about the manipulation so I wouldn't get too bullish . If this corrective wave is true, we would like to see a pullback into the B wave which should start a range for the new "ABC" correction before judging the next breakout. We have our stop loss set at the high of wave a to be safe and our target are at the 61%, 78%, and 100%, to account for either a "regular flat", "irregular flat", or a "running flat". Not advice of course! Let's see how this plays out going forward.
Thanks for the support! Remember, the better you is tomorrow but the current days needs enough attention to get you there!
$NKE Analysis, Key Levels, and Targets - REQUEST$NKE Analysis, Key Levels, and Targets - REQUEST
I have no position here… just doing an analysis for my friend @Dirty_Money88
Interesting. First thing I see right away is MacD curling up… on the weekly… BUT also remember that macD is way under the centerline so still bearish, but with a bullish twist… Sentiment has been getting lower week over week…
It looks like the 200MA was defended… and the MA’s are moving up….
I'd probably sell some puts around 20 delta around here... 😏
AnalysisHello! As you see on the chart we will have a big probability of a downtrend if we have a breakout with force the support line by a big candle with a large volume because the support line is more important than the resistance line. But there may be a continuation of the uptrend if the vwap and resistance line were forcefully broken by a large green candle and accompanied by large green volume.