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.
A 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
Double 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 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...
Although Nike's projection of more favorable transportation costs and strong full-price sell-through of merchandise indicates positive signs for margin performance, there are concerns about the company's expectations regarding selling, general, and administrative expenses. These expenses, including marketing spend, are anticipated to rise slightly faster than...
If you haven`t sold NKE here: or reentered here: Then you should know that NKE is currently trading at $109.52, and based on the following analyst ratings, there is a slightly bullish sentiment surrounding the stock. Barclays has maintained a Buy rating on Nike, setting a price target of $127.00. Additionally, Goldman Sachs also maintained a Buy rating on the...
The PEAD projected a bearish outlook for NYSE:NKE after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 66.67%.
NYSE:NKE had a slight miss on EPS and a beat on revenue. They lowered their forward guidance and price took a measured gap down on open. Price has already teste the lower bound of the gap and the downtrend is likely exhausted. I'm looking at an entry ~$110-111 and the next level of overhead resistance at $116-118.
Yesterday, NKE's share price closed above USD 113, but trading today could open below USD 109 per Nike share. The reason is in the weak report released by the company. Analysts note a drop in demand for products, which may mean a "wake-up call" for consumption in the US economy, squeezed by tight monetary policy. According to finance professor Jeremy Siegel,...
Nike is about to accelerate its rise ! This chart shows the weekly candle chart of Nike stock for the past 4 years. The graph overlays the 2020 bottom to top golden section. As shown in the figure, Nike's stock took shape from the bottom of 2020, and after peaking at the end of 2021, it fell significantly! The two recent lows happen to be the 0.500 and 1.0000...
We are expecting the price to move higher towards the resistance and get rejected. Next, we expect that the price will come back down to retest the upsloping support line (orange line) which would be our entry for a long position. Targets are shown on the chart The invalidation of this thesis would be when the price closes below the upsloping support as it would...
Buy idea on NIKE as you see on the chart because we have the breakout of the resistance line.Thanks!
NKE breakout started happening on the news by FED or may be a short squeeze The next earnings are on 29 June The current technical breakout showing a movement which can see quick recovery to 128 Levels before earnings At the earnings it can potentially break the major resistance level of 128 Price levels @ 116 will confirm a fib golden pocket zone entry...
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.
From an Elliott Wave perspective, it looks like NKE could have a nice upward move in the coming days/months after a three-wave decline since February 2023. Not only did the correction almost reach the end of the previous wave 4, we can see an island reversal on the daily chart after the low of 102.69 was reached. As long as we are trading above this level, odds...
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