Target 107.79Following daily chart.
Got a long signal both of my indicators.
TP1 - 106.44
TP2 - 107.79
TP3 - EMA100 doesn't depend on price.
SL - Following indicator SL but under 97.37 daily close, you can stop also.
NKE trade ideas
Nike Monumental Macro TA FindingsHi guys! This is a look into Monumental MACRO developments occuring in Nike stock market structure, some of which are happening for the 1st time in history.
For this reason and in my opinion, its a very important time to keep eyes on Price action.
The aim is to briefly go over what those developments are and what it may mean for NIKE's Current market trend. Hopefully providing insights for investors.
For this analysis, we are looking at Hieken Ashi candles on the 6 month timeframe.
Note that: Our current candle will close in January 2024. So it has alot of room to change by the time the candle closes.
Ive chosen Hieken Ashi candles to provide clarity in patterns of trend that occured in Nike's History.
Our major development is that we have broken down BELOW and confirmed resistance against our MAJOR MAJOR Historical Support Trendline for all of Nike's Market History.
This is the 1st time we have ever done this.
It warrents caution as this signifies Major Trend Change, perhaps even macro trend reversal.
While we were above the Spport line, we knew that everytime we came down we would atleast test that line.
Now that we are BELOW it, we need price to find the next support.
Currently ive highlighted by a Black Support Trendline, that very support area. We've maintained support since January 2020.
This line coincides with another black line that marks Resistance.
When combining these 2 black lines, we have ourselves a Symmetrical Triangle. That is very likely to play out sooner or later.
If we are able to break above it, it may be probable for us to get back ABOVE the MAJOR SUPPORT Orange line, continuing our Uptrend.
If we break below, further declines will occur. Further supporting the idea of a Major Trend Reversal.
We are also currently at 4 Red candles in a row. If you notice previous history, 4 in a row has happened only 1 other time. July 83 to Jan 85. And also notice that the 3rd candle of the sequence indicated market bottom with the 4th candle printing a higher low.
Can that be the case for us now? Maybe but things in the past don't have to repeat.
Being inside of the symmetrical triangle, 4 red candles in a row would warrant me to NOT take any investment positions.
In my opinion, if we break out on the upside of the symmetrical triangle and preferably get back above "Orange support line", would i consider taking positions.
I think as of now however, we are at best more likely to either move in a range/ sideways or see further declines as the worst case.
Why i think this, is because of the STOCH RSI.
Notice how we are below the 20 level with a bearish cross/signal.
The last time we did this, we were in here for multiple years which led to moving in a range for many years before continuing to make all time highs.
Within range our, price dropped from the top about 67% to bottom of the range.
If we continue the previous pattern, the same is likely. Hypothetically, we can also drop 60% to $70.00 level, which is a support area.
For that to not happen we would need a BULLISH cross ABOVE the 20 level.
Also notice the RSI, we are currently at the lowest level in all of NIKE history. We are also in an RSI range that coincides with sideways or range bound action.
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DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Nike - Bottom or ABC?Nike is close to an important level which will determine if a bottom formation is completed or a further slump will occur. Currently a DBW formation is build after almost perfect a Dopple Top Formation has been finished. Currently we are close to the 4 level, the current local low. The RSI is close to oversell, which support the turn around idea, which may result into a W formation whose execution would probably trigger the 5 and the DBW activation. On the bearish side a potential running ABC pattern can be found fitting perfect into the chart and the Fibonacci patterns.
NKE: We continue to correctOn the chart, there is a descending channel + Elliot correction. Plans to go even lower
Good luck to everyone, if you liked it - subscribe.
NKE Long Setup Corrections usually end at 76 fibs and usually the first pullback from that should end a the 61 fib.
At this point, we can buy NKE with a stop under the 76. If we’re right, we should see i go green and say green soon after the entry.
Trading Signal
Long 98
Stop 74
Target 442
$NKE Head & Shoulders Pattern Triggered"Head & Shoulders" pattern, and mentioning the ticker symbol " NYSE:NKE ," which represents Nike, Inc., a well-known athletic apparel and footwear company. The "Head & Shoulders" pattern is a technical chart pattern that traders and analysts often use to predict potential trend reversals in stock prices.
The Head & Shoulders pattern typically consists of three peaks or highs: a higher peak (the "head") between two lower peaks (the "shoulders"). This pattern is considered bearish, indicating a potential reversal from an upward trend to a downward trend. The pattern is triggered when the price breaks below the neckline, which is a support level connecting the lows of the shoulders.
$NKE Double BottomNYSE:NKE recently experienced an unprecedented 9-day losing streak, marking a historic occurrence in their trading history. According to technical analysis, a Double Bottom pattern is emerging, emphasizing the significance of maintaining a weekly close above the horizontal support line. This pattern suggests potential bullish momentum if the specified level is upheld.
NKE long at the supportHello traders,
Today let's have a look at NKE stock on 4h time frame.
NKE shows some weakness .
We believe that the price will retest the support and 103,60 will be an entry for a long position.
After retesting the support, we expect the price to increase and continue ranging.
2 targets and stop loss are shown on the chart
$NKE - Can it breakout?NYSE:NKE has been consolidating in a tight range.
Breaking above $111 would be bullish. Breaking below $104 would be bearish.
Upside targets: $114, $120
Downside risk: $104.
I am long.
$Nike... why dont you just do it Nike to 112 this week ? we saw a nice accumulation between 106 and 110, now volume starting to come up. i love the box strategy. id love a nice strong bullish candle this week going to 112, hopefully can fill that area.
Buying Nike at trend of higher lows.Nike - 30d expiry - We look to Buy at 104.54 (stop at 100.74)
The trend of higher lows is located at 104.50.
The primary trend remains bullish.
This is currently an actively traded stock.
This stock has seen good sales growth.
Dips continue to attract buyers.
Our profit targets will be 114.04 and 116.04
Resistance: 110.85 / 114.76 / 117.00
Support: 107.00 / 105.00 / 102.90
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Nike short? Strong negative chart formationNike has performed really bad in the last 2 years and it looks like it will not get better. The current chart formation (i call it M-bounce, dont know the "official" name) indicates a strong sell Signal if the price falls below 103$
the potential fall height: 16% to the last low and 40% to the corona low
NKE weekly long ideaNKE is creating liquidity at 100's. a quick pullback to 100 and bounce will confirm a bullish presence and it could move to 160s based on supply and demand.
If this works out we will get a 3.5R trade.
Nike is in bearish cycle for long termHi Everyone
Welcome to todays trading idea, this is an long term prediction. Nike an us based company, currently making an bearish cycle. You can trade in small amount for investments.
Let me know if you have any question related to forecast.
Thank You
NKE good value at todays pricesThe world's largest athletic apparel company, Nike is best known for its footwear, apparel, and equipment. Founded in 1964 as Blue Ribbon Sports, the company became Nike in 1971 after the Greek goddess of victory. One of the most valuable brands among sport businesses, Nike employs over 76,000 people worldwide.
Nike strong up movement. Double bottom pattern
Strong up side movement first target 114 Second target 125 in coming months.
Try to get upside move from start and get great R/R
Nike's (NKE:NYSE) Q4 Results Highlight Persistent ChallengesIntroduction:
Nike's Q4 results reveal that the company continues to face challenges, indicating a potential revision of their long-term sales growth target. Despite notable successes in certain regions, caution remains regarding the company's future growth prospects, particularly in the highly competitive Greater China market.
Challenges in Overcoming Obstacles:
Nike's Q4 results suggest that the company is still grappling with obstacles. The need for a potential revision of their long-term sales growth target highlights ongoing challenges in achieving desired growth rates. It indicates the necessity for strategic adjustments to navigate market dynamics effectively.
Unchanged Inventory Value and Reliance on Promotions:
Nike's inventory value has remained unchanged compared to the previous year, indicating a stagnant stock situation. To clear excess inventory, the company has relied on promotional efforts, which are expected to continue into FY24. This reliance on promotions suggests a need for continued efforts to optimize inventory management and drive sustainable sales growth.
Cautious Outlook for Greater China:
While Nike achieved significant revenue growth of 25% in the Greater China region, caution persists regarding future growth prospects. Mounting competition in the region raises concerns about Nike's ability to maintain its market position and sustain growth in the face of intensified competition from local and international rivals. Strategic measures will be crucial to secure a competitive edge and capture market share effectively.
Conclusion:
Nike's Q4 results indicate that the company continues to grapple with challenges, prompting a potential revision of their long-term sales growth target. The stagnant inventory value and reliance on promotional activities reflect the need for continued efforts to optimize inventory management and drive sustainable sales growth. While Nike achieved impressive revenue growth in Greater China, caution remains due to mounting competition. As Nike navigates these challenges, strategic adjustments and a focus on market dynamics will be essential for securing future growth and maintaining a competitive position in the highly competitive athletic apparel industry.
This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.
Bullish alert : NKEHourly Chart
Double bottom with a new bullish alert.
Waiting for a crossover with a first try at about $112
Nike has no upside -NKE has gave us confirmation that we are in a W3 and still looking for more downside. We saw rejection from the W2 off of the .5 fib level and have since been in a decline. I have drawn a blue line where I want to see price break though and keep heading lower.
I would stay away from Nike for now as it plummets.
$NKE - What's next?NYSE:NKE 's earnings report (ER) destroyed the setup. That's the danger of getting into a stock right before ER and pattern confirmation. A green position turned red in a single day.
So, what's next? I think it might drop down to $100, but I expect it to bounce from there.
NKE to 125A strong lvl of S&R is at 117, we can enter anytime above this level price.
Take profit is 125.00
Stop Loss is at 105.50
NKE double bottom bullish outlookDouble Bottom chart pattern identified
Then neck line is at a strong resistance level of 114
If it crosses that resistance then the next target is 126
Nike Fails at Potentially Key LevelNike has lagged the broader market this year. Some traders may see an opportunity to push the downside, especially with weak quarterly results and slowing growth in China.
The first pattern on today’s chart is the 200-day simple moving average (SMA), which the footwear stock broke in mid-May. It tried and failed to reclaim it last month – a potential sign of the longer-term trend getting bearish.
In a similar vein, the 50-day SMA is nearing a potential “death cross” below the 200-day SMA.
Next, you have two sets of lower highs. One occurred between early February and early May. The other occurred in the second half of June. Such price action can be indicative of downtrends.
Third, last month’s high was below the $116 area where NKE bounced in mid-March. Has old support become new resistance?
The recent peak additionally brought stochastics to an overbought condition.
Next, the 8-day exponential moving average (EMA) recently crossed below the 21-day EMA. That may suggest the short-term trend is bearish.
Finally, traders may target a price level near the October low of $82.22.
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