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NKE trade ideas

NIKE HAS GOOD RISK REWARD FOR A TRADE INTO EARNINGS There is no doubt there is risk involved in Nike pre earnings, once the word China is used during the earnings call things can go south very fast but We think the risk to reward ratio is good. One factor to consider is the TIGER WOODS effect could have spurred on sales in golf apparel once again, during the majors in which he was once again top billing. Ath leisure remains very strong and growing at a considerable pace worldwide as men start to embrace the once women only Yoga clothing. LULU and UAA have reported great quarters, so the same should be expected of NIKE, still the KING.
NYSE:NKELong
by RedHotStocks
Elliott Wave View Favors More Upside in Nike (NKE)Short term Elliott wave view in Nike (NKE) calls the rally from June 3 low unfolding as a 5 waves impulse Elliott Wave structure. Up from June 3 low, wave 1 ended at 78.58 and wave 2 pullback ended at 77.58. Wave 3 ended at 84.23 and subdivides as another impulse structure in lesser degree. Wave 4 pullback ended at 82.47, and wave 5 ended at 84.38 which also subdivides as an impulse in lesser degree. The 5 waves move higher ended wave (A) and the stock is now correcting cycle from June 3 low in wave (B) The correction is proposed to unfold as a zigzag Elliott Wave structure. Potential area where wave (B) can end is 50 – 61.8% Fibonacci retracement of wave (A). This area comes at 79.69 – 80.54 where buyers can appear for more upside. We don’t like selling the stock.
NYSE:NKE
by Elliottwave-Forecast