Mornau-Research

NKE- Run !

Long
NYSE:NKE   NIKE INC
Welcome back to another dow30 stock analysis, today we take a look at Nike . NYSE:NKE

Nike is currently breaking high after high and there is still no end in sight!
As an example, nike gained more than 125% stock value since the bottom of the march crash.
It should be no surprise that everybody wants to participate in this rallye , but being careful in this situation is very important.

Nike formed a solid 1-2 in the last days and hit exactly the 0.618 retracement , this strongly points towards the start of a wave 3.
The next stop for nike will be 140$-150$, there we will see a short correction.

I will watch the market very closely in the next days and will announce an entry if i get the chance to.

Primary scenario:
In the next days and weeks we will reach prices above 140$ or even more, so stay tuned!
From there we will witness a very short wave 4 correction until the bulls push nike towards a new ATH .


Alternative scenario:
My alternative scenario will get triggered if we break the previous 1-2 setup at 125.55$.
Breaking this level would strongly indicate for a final wave C correction, which could bring us to prices as low as 110$.

===================================================================================================================

If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
If you should have any questions or want to get signals before i publish them on tradingview, feel free to contact me.

Comments

as of dec 8th - what would you suggest - can enter now ??? thanks
+1 Reply
@buzzgayu, I don't recommend to open positions in Nike right now, the situation is just to risky for me.
The RSI is dangerously overbought and we haven't had a major correction since march. I see much better opportunities in other stocks, like Amgen or Apple.

If i spot a profitable entry i will don't hesitate to publish an analysis on Nike.
+1 Reply
Any updates on NKE?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out