Nike rebounded from a steep sell-off, to gap and run up. The support for the rebound is prior months’ highs. Stock indicators turned positive. However, resistance is stronger against the rebound candlestick pattern.
The level of support rising indicates a potential bullish trend for NKE, my prediction is drawn on the green line. I suggest buying calls for the long run
Double tops seldom decline steeply. The current price has not dropped through the top completion level. If it breaks through that support, the target downside run gain is around $78.
Market is totally ignoring fundamentals or earnings, it's all about computer algorithms and making the DOW complete its pattern. DOW components are pumped to ridiculous levels to get that triple top. According to my chart, DOW should top out Wednesday. We'll see.
Easy stop loss on the nke for a potential short play seem to be a strong stock at the moment so be careful play small
Last post: September 17th 2018. See chart . Review: Price had just cleared $80 and was looking strong for further bullish action. Update: Price instead pulled back to $67 found support, bounced and is now trading back above $87. Conclusion: Patience needed until a break and close above the March high to suggest a bull trend continuation. Sublime Trading
Publication of a negative quarterly report provoked a strong downward momentum and interrupted the recovery of stocks since the beginning of 2019. The development of the potential of the pivot point, as well as the height of the amplitude on the AO oscillator, speaks about the strength of the pulse. The breakdown of the previous fractal down at 83.70 - a signal to...
lower low on the daily, 82 is a small drop below then 78 (ref:see oct 10) $XRT
NIKE is reporting earnings today AFTER the market closes. How the stock behaves will help determine how to trade this earnings season as we can begin to determine which of the HFT algorithms are being used and the expectations of the pro traders on how they are managing the pre-news they receive ahead of the retail crowd. Currently there is no viable pre-earnings...
Entry = 86.29 (also possible average down if it hits bottom channel trend line) Target 1 = 88 Target 2 = 89.20 Stop = Daily close below 86.29 Trade is invalid if it breaks out before hitting support. Also invalid if the pullback to support is caused by bad news.
Time to short it with a stop $1.00 above all-time high
Do you think we can tag the 204 Month SMA by Q2 2020?
You Guessed it... brschultz
NKE didn't just blow a sneaker, that's it for the stock price if i am correct. brschultz / markettimer777