Potential C&H is forming on Nike.
It's definitely too soon to execute trades based on the week upside in the last few days. We need the price to break above the Resistance of the previous M Formation.
This one requires a bit of patience because anything can happen at this rate.
Either it can form a C&H, W Formation, Scallop. Or it could fail and drop further if...
Higher low double bottom situation along a strong up trend in green.
I expect this to allow a recovery upwards strongly.
The curve just highlights the sharp rise.
Daily timeframe.
Watch this analysis carefully and then think logically and then agree with me. Missing an entry means nothing. If you know how to trade you can fin multiple trades. Don't forget to follow me here on trading view.
This idea is based on Wyckoff's method for calculating target objectives using the Point & Figure chart. The premise behind it is that NKE's shares are currently being accumulated prior to a break out that will go beyond all time highs.
All other information is on the chart.
On the hour chart the trend started on June 1 (linear regression channel).
There is a high probability of profit. A possible take profit level is 111.70
But do not forget about SL = 102.72
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested. Thank you!
Good luck!
Regards, WeBelieveInTrading
Nike - 30d expiry - We look to Buy a break of 109.31 (stop at 105.31)
The primary trend remains bullish.
This is currently an actively traded stock.
The stock is expected to outperform in its sector.
We are trading at oversold extremes.
Prices have reacted from 102.90.
The bias is to break to the upside.
Our profit targets will be 119.31 and 121.31...
NKE is reacting from the origin of proper Monthly demand zone and now it has formed a Bullish Harami candlestick pattern. I dont follow these patterns but when they are formed at right levels they do work.
One of these things is about to be just like the other...
IT'S HAPPENING...
The music has stopped.
And there are only so many chairs.
8 days...
3 hrs...
NYSE:NKE
Watching to see if it holds this $114 level and 200sma on the daily which is at $113
Sold off due to FootLocket(FL) earnings which were terrible and NIKE IS NOT THE SAME COMPANY AS FOOTLOCKER!
Saw bigger volume come in on Friday with buyers so want to see if that continue and if we can get back to $118 level.
June and July Calls were loaded and are...
Based on the last Volume heavy buying @ 125
Currently its bouncing from a very strong support zone of 115 to 117
after confirmation of bounce
Entry @ 118
TP1 @ 125
As per FIB retracement it also looks like its on its way to a bullish reversal once its crosses the 131 level
for long term investment
Entry @ 135
TP @ 175
Accuracy and consistency matter to develop trust that I will always
try my absolute best to give the best analysis and simplest trade setups
that I can. :)
before buying, please check for being sure about your opinion about this STOCK!!!
(in every target you want, closed the position but our target is the third one)
*************************************************
if you want to enter in this position:
Enter Price: 125.93
Target1: 125.24
Target2: 124.33
Target3(Final Target): 123.26
Stoploss:...
Nike (NKE) broke above its Falling Wedge, which based on the huge rally since October, is the technical bull flag pattern for a bullish continuation. The very same break-out was seen on July 29 2020. Both sequences formed Inverse Head and Shoulders patterns and 1D Golden Crosses. Even the RSI formations are identical. The 2020 one targeted the 2.0 Fibonacci...
Momentally descended back from OBOS. Plentry of space to descend. Internal formation consistent with a Wave A on fibtime - this is unlikely to be an isolated move in the bounce from previous heights.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple...
If you haven`t sold NKE here:
or reentered here:
Then you should know that looking at the NKE NIKE options chain ahead of earnings, I would buy the $115 strike price Puts with
2023-3-24 expiration date for about
$2.40 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion...
