$NKE Cup with HandleNYSE:NKE trying to get out of a cup with handle base.
I continue to remain on the sidelines observing for now.
NIKE34 trade ideas
Nike Pulls Back Before EarningsNike pulled back along with the rest of the market last month. Is it creating opportunities with quarterly results later in March?
The first pattern on today’s chart is $116.75. It was the low a year ago and near the high in mid-August. NKE paused there in December before continuing toward $130. The athletic-apparel stock is also bouncing above the same zone today.
Next, the latest pullback dragged stochastics to an oversold condition, from which the oscillator is now rebounding.
Third, the 50-day simple moving average (SMA) rose above the 200-day SMA in mid-January. That kind of “golden cross” may suggest NKE’s longer-term trend has turned positive.
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it's time to falling for NKEbefore buying, please check for being sure about your opinion about this STOCK!!!
(in every target you want, closed the position but our target is the third one)
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if you want to enter in this position:
Enter Price: 125.93
Target1: 125.24
Target2: 124.33
Target3(Final Target): 123.26
Stoploss: 127.40
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Needs to close above X leg for cup/handle breakoutNike is facing resistances from X leg, which was a previous support leg... This is not a confirmed breakout out til the handle breakouts above current resistances. For now, im monitoring this position, and remain neutral. However, overall market is looking bullish... wait for confirm breakout before proceeding w/ this position.
NKE - CUP (& handle?) in the makingA "CUP" formation (with or without the "handle") is usually a consolidation period after the stock has run up.
NKE ran 60% since its capitulation low @ 81.74 on 3rd Oct 2022 to a high of 130.92 on 2nd Feb23 before it began to "consolidate" for the past 2.5 months.
It looks like it could attempt to retest the last high @ 130.92 in the coming days. Once it reaches this level however, whether it would break up soon after or instead begin another smaller consolidation (to form a "handle") remains to be seen. With earnings expected only in late June, it is possible a breakup above 130.92 may not happen so soon.
Those who are invested need to remain patient as the longer term trend is still looking good.
Short term trader would wait for a confirmed breakup of the neckline 2 @ 130.92 to initiate a Long trade.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NIKE is making a bullish break-out targeting $155.00Nike (NKE) broke above its Falling Wedge, which based on the huge rally since October, is the technical bull flag pattern for a bullish continuation. The very same break-out was seen on July 29 2020. Both sequences formed Inverse Head and Shoulders patterns and 1D Golden Crosses. Even the RSI formations are identical. The 2020 one targeted the 2.0 Fibonacci extension. That is not at $155.00 and that is our long-term target.
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TriangleDescending triangle but the bottom line does slope up a bit.
Call it what you may, as both patterns are neutral until broken.
Triangles are calculated by many by measuring the wide end then projecting it up or down from the point of breakout.
No recommendation.
52 Week Range
82.22
139.14
Day Range
119.13
121.55
EPS (FWD)
3.23
PE (FWD)
37.16
Div Rate (FWD)
$1.36
Yield (FWD)
1.13%
Short Interest
0.87%
Market Cap
$184.78B
Nike -just did it. NKEMomentally descended back from OBOS. Plentry of space to descend. Internal formation consistent with a Wave A on fibtime - this is unlikely to be an isolated move in the bounce from previous heights.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NIKE: Bullish Flag, Possibly Beating Earning Estimate Again?Price Action Analysis on NIKE, Inc
On the Daily Timeframe, NKE is moving above EMA90. NKE is breaking out of the bullish flag pattern, indicating a possible bullish bias ahead. The Stochastic made a bullish divergence, signifying a possible upside movement to the target area.
Fundamental Drives
- China sales rebounded further due to ending its zero covid policy.
- Improving earning report, potentially beating earning estimate again.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the NKE"
Nike Inc. (NKE) bullish scenario:The technical figure Falling Wedge can be found in the daily chart in the US company Nike Inc. (NKE). Nike Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022. The Falling Wedge broke through the resistance line on 17/03/2023. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 6 days towards 123.99 USD. According to experts, your stop-loss order should be placed at 115.87 USD if you decide to enter this position.
Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with designer and rapper Kanye West which caused the German company to lose about $600 million in quarterly sales.
Nike is also expected to get a boost from higher sales of its Jordan Retros and some newer launches as the world's No. 1 sportswear maker stays ahead of rivals through its innovative product lines.
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$NKE Broadening formationNot financial advice.
$NKE currently heading to the top of broadening formation. Earnings tomorrow!
Possible Gap up in the morning to finally get to the top of broadening formation but cautious since it might get rejected there and try to fill gaps on the green on the current weeks.
Thanks Alex!
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NKE NIKE Options Ahead Of EarningsIf you haven`t sold NKE here:
or reentered here:
Then you should know that looking at the NKE NIKE options chain ahead of earnings, I would buy the $115 strike price Puts with
2023-3-24 expiration date for about
$2.40 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
SHORT NIKE.NIKE seems to be loosing its bullish momentum after breaking below a major support to what appears to be a retest (or bear flag) to continue to the downside. This can be supported by the smaller time frames (15m) price action as price is failing to make higher highs and is failing to break and close above what is now resistance. Gaps usually are filled but sometimes the levels created by the gap can cause a bounce so be cautions if shorting early and or have runners prepared incase the gap decides to fill.
NIke final run!FA is strong but can this thing leave thru all the bad bubbles without being punished eventually..... well i believe so lest speculate this into a bearish trend up to 127-900 dollars....why not amazon and apple did....and i hate apple... yet its price soars... nike cant be worse than apple in any means at all... as far as consumers go...
