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NKE trade ideas

NKE ShortNike (NKE) has seen a significant drop, over 20% in one week, due to poor earnings and declining demand for footwear. The stock closed with a high relative volume of 8, indicating heavy selling and buying activity involving both new and long-term investors. This trend is expected to continue, potentially leading to further declines in the stock price to the $70-$60 range. A volume profile analysis shows major dip buyers around $50, suggesting significant support at that level. The plan is to short the price earnings gap move with a stop loss at AVWAP and another position with a stop loss at the high of the day. Continuous additions on pullbacks into AVWAP during capitulation are recommended. This stock is a major watch for both long and short traders due to the big trade potential on the horizon.
NYSE:NKEShort
by thinkCNE
Nike’s Plunge. x_xNike Inc. (NYSE: NKE) has experienced a precipitous decline, closing at $75.37, down by almost 20%. This has sparked intense scrutiny and speculation regarding the stock’s future trajectory. Here’s an in-depth technical analysis to offer insights and projections. Nike’s recent price action is characterized by a sharp sell-off, forming a large bearish candlestick on the weekly chart. This signifies a strong bearish sentiment among investors. The volume spike accompanying this drop indicates significant selling pressure, suggesting that the bearish momentum might persist. The 10 and 20-day moving averages are significantly above the current price, indicating a short to medium-term bearish trend. The RSI is on the brink of entering oversold territory, which might indicate a potential for a short-term bounce. The CCI’s extremely negative reading also suggests the stock is deeply oversold. The negative momentum indicators reinforce the bearish sentiment. The MACD is in negative territory with a widening gap between the MACD line and the signal line, further indicating sustained downward momentum. Nike’s earnings have historically beaten estimates, with Q3 ’23 showing a surprise of +29.84%. However, the forecast for Q1 ‘24 shows an EPS estimate of $0.59 and revenue estimate of $11.87B. These projections, amid current market conditions, will play a crucial role in determining the stock’s near-term direction. The sharp decline has been attributed to concerns over future earnings and potential supply chain disruptions. This negative sentiment is reflected in the “Strong Sell” recommendation from various technical indicators. Key Support and Resistance Levels Immediate Support Levels: S1 (Classic): $66.86 S2 (Classic): $24.21 Immediate Resistance Levels: R1 (Classic): $87.72 R2 (Classic): $130.37 Short Position Given the strong bearish signals and the significant decline, a short position seems more appropriate at this juncture. Entry Point: If the stock breaks below $66.86 with high volume, confirming continued bearish momentum. Price Target: $50.00 (initial), with a potential to drop to $24.21 if the downward pressure remains strong. Stop Loss: $75.00 Long Position A long position should be considered only if there are clear signs of a reversal at key support levels. Entry Point: If the stock shows reversal signals around $66.86 with increased buying volume. Price Target: $87.72 Stop Loss: $60.00 Speculative Price Targets Bearish Scenario If Nike continues to face strong selling pressure and breaks below key support levels, the stock could test the $50.00 mark in the short term. Should macroeconomic conditions and company-specific challenges persist, a further drop to $24.21 is possible. Bullish Scenario In a bullish turnaround scenario, where support at $66.86 holds, and positive news or earnings surprises come into play, Nike could rebound towards $87.72. A sustained rally could see the stock attempt to recover towards the $100 mark, aligning with some of the longer-term moving averages. Nike Inc. (NKE) is at a critical juncture, with strong bearish momentum currently dominating. While there is potential for a short-term bounce, the prevailing indicators suggest a continuation of the downward trend. Traders should consider shorting the stock if it breaks key support levels, with tight stop losses to manage risk. Conversely, a long position may be viable only on clear reversal signals and stabilization around significant support levels.
NYSE:NKE
by AxiomEx
6/28/24 - $nke/$spy - these charts r important 2 learnon this friday i want to explain what i mean by NYSE:NKE on it's AMEX:SPY pair (we refer to things a lot in "crypto" vs. it's CRYPTOCAP:BTC pair - to be clear i don't chit coin much, i'm essentially maxi, but we come back to that in time k?) in stonks, i think we can borrow something interesting from the "crypto" industry, which is looking at things on their high quality pairs. this eliminates the issue of time bias. e.g. do you measure YTD vs. another asset. do you pick the "covid" lows? when you divide things by other things, you eliminate this bias and see things more clearly. also allows you to spot outperformance better esp on small time frames. the reason i show this chart is to zoom ALL THE WAY OUT. these are some long time horizon bars. i use fib to show some possible support zones. - we have cv dip gaps that might get filled - we have fib levels to think about all in - 20-25% lower on an S&P that could do -10-15% is probably the max drawdown you're looking at here. not ideal. this is why i'd not recommend actually backing up the dip here. we need to be smart about trading $nke. however, this is by no means a dead company/ brand (actually quite the opposite). it's just the environment. hard to buck the trends when u r industry leader. easy when u have niche brand. so what i'm suggesting is anything in the $60/shr is probably great value, if we get there. and i'd be backing up the semi if we go to low $60s, which i think is a 30% probability. but just set those alarms in trading view and go about your daily life until they get triggered if u don't need to own this. practice doing $yourticker/ AMEX:SPY and $yourticker/ NASDAQ:QQQ and $yourticker/ BINANCE:BTCUSDT on every asset. it will help you understand how the market is thinking about everything as far as opportunity cost goes. V
NYSE:NKE
by VROCKSTAR
75: Analyzing Nike's Strategic Entry Points Amid Sales DeclineNike's latest earnings report revealed a significant drop in sales over the past three months, particularly in China and in the lifestyle and classic sneaker segments. Despite some gains in basketball apparel and running shoes, the overall sales figures fell short of expectations, leading to a substantial drop in Nike's stock price. Our analysis indicates a critical point of interest at the pandemic low of $67.58. This level represents a potential buying opportunity for long positions, given our belief in Nike's capacity for future innovation and market recovery. Nike has faced criticism for a lack of innovation, which has allowed competitors to gain ground. However, with the upcoming Olympic Games and potential new product releases, we see potential for a rebound. Key factors to watch: Sales performance in China and North America. Upcoming product launches and innovation initiatives. Impact of the Olympic Games on brand visibility and sales. At $67.58, we will closely monitor for potential entry points for long positions, trusting in Nike's ability to innovate and regain market strength.
NYSE:NKE
by SeventyFive-Invest
6/24/24 - $nke - Setup long into print but I'm on bench6/24/24 :: VROCKSTAR :: NYSE:NKE Setup long into print but I'm on bench Quick comment on this softline bellwether. - Look at "NKE/SPY" on trading view e.g. look at Nike as compared to the S&P "comp". Puts you back at 2013 levels. In other words it's been a pretty bad "money" - recent result was weak/ consumer still yet to be cracking, and they'll really have to blow out of the water AND talk about how they're taking share - on this taking share point - have you noticed all these co's beating NYSE:ONON , NYSE:DECK , NASDAQ:CROX etc. that aren't obviously true comps, but nonetheless - taking the core business and growing in other areas Nike can't directly address. I'm not an expert here, but from my arm chair this matters - valuation is 27x PE... not "cheap". 3.5% yield and growing MSD at best is better cash - but again so are most A-tier brands. So in sum i'd expect a beat but it's hard to see institutions backing up the truck and adding. Look what happened to NASDAQ:LULU , gave a lot of it back, didn't stick. Smaller co. Probably a better MT-LT grower (vs. NYSE:NKE ). Cheaper PE too. It's tough for me to like this one into the results even if the chart looks like a good setup as this a. tape is rich/ toppy (for now - more on this later) and b. the stock has not been a good store of value so there needs to be an inflection in sentiment and facing this current consumer + being industry leader (so harder to "buck" the trend)... no me gusta mucho. I'm on the bench, warming up for a better pitch. Gl to longs. lmk if i've overlooked anything V
NYSE:NKE
by VROCKSTAR
2
$NKE still displays an uptrend in its monthly chartIn 2024, **Nike** continues to lead the sportswear market in China, with **46.2%** of consumers purchasing from the brand¹. **Adidas**, on the other hand, was chosen by **32.4%** of consumers¹. This data indicates that Nike is more popular than Adidas in China in 2024. However, it's important to note that both brands are facing increasing competition from local brands and changing consumer preferences, particularly among Millennials and Generation Z, who show a strong preference for domestic brands and products that incorporate traditional Chinese culture and style². Despite these challenges, Nike and Adidas continue to be among the top sportswear brands in China¹². Source: Conversation with Copilot, 6/27/2024 (1) In data: Nike, Uniqlo, Adidas among China consumer favourites. www.just-style.com (2) Nike dominates Chinese apparel market for now, but ‘Guochao’ is .... www.imd.org (3) Why Nike and Adidas no longer dominate in China - NextShark. nextshark.com (4) How Nationalism in China Has Dethroned Nike, Adidas - Bloomberg.com. www.bloomberg.com
NYSE:NKE
by KhanhC.Hoang
4
Just do it or just don’t do it?Nike is one one of the most recognisable brands. A staple name, the biggest sports and apparel brand in the world. So what’s gone wrong and why has the stock suffered of late? If you look back at the chart on a 6 month interval you will see that the price has remained in a constant uptrend since it was listed. In fact this trend line dates back to 1981 folks. Whilst Nike does dip below the trend line, it managed to find its way back and bounce of it. That was until recently, particularly today where they failed satisfy investors that their turnaround story is still in tact. Blame China, blame brands like Hoka. None of that really matters. My concern is with the price. I suspect we drop to around $78 to fill the gap and continue to grind back up. If that fails, get out as there could be a larger drop. So should you do it, or should you not? Of course this isn’t financial advice but Nike isn’t going anywhere. So be patient, don’t FOMO in. Dca down and be patient. More importantly DYOR
NYSE:NKE
by NoFOMO_
NIKE Downtrend Line Rejection At $97.76. 27.06.2024- Identified a downtrend line rejection on the 4-hour chart of NIKE Inc (NYSE: NKE) around $97.76. - If rejection holds, anticipate a potential decline to $90.91, with further downside potential to $82.19 upon breaking below $90.91. - Conversely, if rejection fails, expect a possible move upwards to $103.15, with potential continuation to $107.39 upon breaking above $103.15. Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NYSE:NKEShort
by Stuart_Cowell
3
Bullish Momentum on NKE Aiming for $108-$121 TargetsAfter a thorough analysis of Nike, Inc. (NKE) on the charts, I've observed that we're currently in an upward trend, indicating strong bullish momentum. This analysis is grounded on several technical indicators and chart patterns that suggest continued growth potential in the near term. Key Highlights: Current Trend: The stock has been exhibiting a robust upper trend, with price action consistently forming higher highs and higher lows. This trend is supported by strong trading volumes and positive market sentiment towards the company. Target Levels: Based on the current momentum and technical indicators, I'm targeting the $108-$121 price range. This range is identified by analyzing historical resistance levels and the gap down areas that have now turned into potential targets as the stock moves upwards. Technical Indicators: Several technical indicators support this bullish outlook. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, while the Relative Strength Index (RSI) remains in a healthy range, avoiding overbought territory. Additionally, support levels have been rising, further reinforcing the stock's strength. Gap Down Areas: The specific focus is on the $108-$121 gap down areas from previous trading sessions. These gaps represent potential resistance turned support levels, offering an excellent opportunity for gains as the stock aims to fill these gaps in its upward trajectory. Conclusion: The combination of a strong upper trend, supportive technical indicators, and the aim to fill the gap down areas provides a compelling case for bullish positions in NKE. While the market remains unpredictable, the current technical analysis suggests that NKE is on a path to potentially reach the $108-$121 targets in the upcoming sessions. As always, keep an eye on market news and be prepared to adjust your strategy based on new information. Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your research and consider your risk tolerance before investing in the stock market. Dr SAUD
NYSE:NKELong
by DrSaud1
1
NIKE - Gap Closure as First TargetProperly configured Fiboclouds provide support for reaching the first target by closing the gap. If this projection is confirmed and a partial realization occurs at the first target, the stop loss should be moved from its initial position to the same line where the position was opened. This way, the journey towards the final target will proceed with reduced risk of losses and the preservation of the partial gains achieved so far. Follow us to receive notifications of new trades as well as frequent updates on ongoing trades. Finally, if you agree with the idea or found it useful, please give it a BOOST so that it can reach a larger number of people! Thank you!
NYSE:NKE
by EthosInvest
NIKE 100 AFTER EARNINGS ? Nike’s stock has the potential to reach $100 after earnings due to several key factors highlighted in recent financial reports and analyses: BY CAFE CITY STUDIO 2024 Earnings and Revenue Beats: Nike’s fiscal Q2 results showed a 17% year-over-year growth in sales, surpassing Wall Street’s expectations. This positive performance, along with earnings per share (EPS) that edged up 2%, has been a significant catalyst for the stock’s rise. Raised Full-Year Revenue Guidance: Management’s decision to raise the full-year revenue guidance reflects confidence in Nike’s financial outlook and can be a strong indicator for investors, signaling potential growth and stability. Cost Reductions and Margin Improvements: Nike executives have mentioned that product costs are expected to fall in the second half of the year, along with a more favorable foreign-exchange environment, which could lead to improved margins. Strategic Business Adjustments: Nike is adapting its sales strategy by planning for near-term sales declines at major partners like Foot Locker. This recalibration aims to reduce dependence on third-party retailers and increase direct sales, which could enhance profitability. Market Position and Brand Strength: Despite stiff competition and weaker demand, Nike’s enduring brand appeal and shift towards more casual gear position it well to capitalize on market trends. Innovative Product Offerings: Nike’s focus on serving specific consumer segments, such as women and everyday runners, and expanding into fast-growing segments like trail running, demonstrates its commitment to innovation and market expansion.
NYSE:NKELong
by NYRUNSGLOBAL