Buy Nike - touching a bullish trend line since 2000 + descending channel.
Target -10% correction to the Previous support that is now resistance.
NKE trade ideas
Nike (NKE) can be a very good buy down around USD 60.00 - 65.00Technical Analysis of Nike Inc. (ticker on NYSE: NKE)
Nike (NKE) is in a long-term downward trend, showing a very weak development.
Then we know the saying 'Never try to catch a falling knife', and you can safely say that about the Nike share here now.
According to the long-term falling trend that the share is moving within, a further fall towards around USD 60.00 - 65.00 is indicated.
Preferably within the next 1-3 months.
Naturally, there will occasionally be some rebounds, but the trend indicates that the share will likely fall towards USD 60.00 - 65.00 within 1-3 months.
So well worth keeping an eye on Nike stock going forward, and if it comes down to the bottom of the long-term downtrend, around USD 60.00 - 65.00, then it might be worth trying an investment in the stock around that level.
Yes, Nike is not going bankrupt, so to speak, but the company has had its challenges to contend with in recent years, and down to USD 60.00 - 65.00 the share can be an interesting investment, the undersigned believes.
After all, Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales.
$Nke 85c aug 9 exp OLYMPIC PUMP Nike saw a slash in price from $94- $74 after a drop in annual sales.
After this drop we saw a consolidation at $74.79s and a bottom was formed.
We do need to clean break above $77 to bring in more volume
76.76- 77.47 is our volume box.
I believe in Nike. IT is a staple of American Sports and athletic apparel.
I am looking to buy $85-$87 calls for Early Aug exp. I will roll these calls for the duration of the 2024 Olympic games. We may not fill the entire $20 gap but 50% at $85 is very achievable.
Nike is still listed as a sell on TV indicators but we will be early to the breakout and nicely rewarded.
Patience. Discipline. Consistency.
This is not financial advice and please do your own due diligence and research prior to entering.
Current Price $75.47
Target Price $85.50
#Nke
Long Nike on the 76 fibNKE has been getting hammered badly recently and all of this can build up into cap down capitulations to the 76.
I like buying things cheap. Especially at 76 fibs and I love things crashing into 76 fibs.
Taking a NKE position build up of shorting put spreads and buying calls. Betting the low is in and we retrace at least 40% of the drop - possibly get to the high.
NKE FREERUNS TO THE LOWSWhen looking at the chart, we have a clear three wave structure coming down from the November 2021 high. That puts the current price action in wave C, with the question of where will wave C end. That said, institutional activity has left a clear roadmap with strong support at the .764 extension around $57, which should create a fresh low on the weekly RSI to start looking up again.
NKE ShortNike (NKE) has closed below the Anchored Volume Weighted Average Price (AVWAP) from the recent earnings report. An insider recently bought shares, prompting retail investors to follow. Despite the range-bound trading, there is potential for profit. The plan involves entering a second position at the low of the day (LOD) with a stop loss at the high of the earnings wick. This strategy aims to capitalize on the insider buying signal while managing risk through precise entry and exit points.
Nike’s Troubles Could Persist After Poor Results & Stock SlumpLess than a year after posting its longest losing streak on record, Nike’s stock registered its worst day ever, erasing nearly $20 on Friday. The collapse came after the sportswear giant reported poor Q4 FY2024 results and offered disappointing guidance. Revenues shrank 2% y/y, the most in four years, with executives expecting a stepper decline of 10% in the current quarter. But the bad news stop there, as they also reversed their full FY25 outlook, now seeing a mid-single digits drop.
The firm faces increased competition from startups like On running, while Adidas seems to be regaining its stride. Nike’s direct-to-consumer pursuit gave way to competitors and proved to be a mistake. Sales in Greater China grew in the reported quarter, but the was mainly due to the 6.18 promotional festival and this critical region remains a source of uncertainty.
At the same time the external environment remains unfriendly for discretionary goods, as US inflation lingers, borrowing costs remains high, the excess pandemic savings that supported spending are now gone and credit card delinquencies are rising. The Consumer Discretionary SPDR ETF (XLY) gains less than 5% YTD as the S&P500 soars, but over performs compared to Nike’s nearly 30% YTD losses. It is clear that Nike’s problems are likely to persist and continue to weigh on the stock. Friday’s historic plunge exposes NKE to the 2020 lows (60.00).
On the other hand, Nike’s leadership has been taking action to mitigate the issues. It is putting emphasis back on third party vendors, sales through which increased in the last quarter. It is cutting costs, which helped its gross margins and net income to widen in Q4FY24. Nike is also refocusing on innovation, which could help it regain its edge over rivals. The two major sporting events of the summer, the Euro 2024 football championship and the Paris Olympics, can help it regain its appeal. The turnaround efforts create optimism for the future, but they will take time and the next few quarters are likely not going to be easy.
Technically the drop of NKE is stretched and a rebound would be reasonable. However daily closes above the EMA200 (black line) would be needed for the bearish momentum to pause and that does not look easy under current conditions.
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Past Performance is not an indicator of future results.
$NKE Nike, Inc is finally back to CHEAP-ENOUGH levelsMany years ago I had drawn this 1.7-1.3 level in the PSR (or Price-to-Sales Ratio) for NYSE:NKE and the recent smack down for NYSE:NKE stock has put it within reach of the 1.7-1.3 X Sales zone.
The RETURN for shareholders has been negative for the last 7 years in NYSE:NKE when adjusted for inflation. The stock is basically unchanged back to 2018 here (not factoring dividends).
What is the point of this?
When a stock gets sold down on bad news, there is an underlying level of value which will support it from that point forward. There are always portfolio managers looking to invest in stocks that have had solid long term fundamentals with rising sales and earnings and a nearly recession-proof business model.
The opposite is also true that there are NO BUYERS for a stock once it gets ridiculously overpriced and no one can justify buying shares are high prices. The only hope you have at that point is for momentum to attract new buyers who aren't paying attention to valuation and because of tax laws that encourage people to hold on for long term capital gains tax rates to kick in for holding periods greater than 1 year.
Thanks to TradingView for providing all of this high quality fundamental information AND for the ability to graph this data so we can visualize and see where the value is in the marketplace.
The value is down here in NYSE:NKE shares so it is a good time to start buying.
Cheers,
Tim
3:47PM July 1, 2024 76.67 last +1.30 +1.72%
NIKE - A No Brainer! Following on from our last analysis of Nike, we are down a further 20%! As explained in the last analysis, Nike is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022. The chance of it going bust is incredibly low. Any dips should be considered a buying opportunity.
We are fast approaching the pandemic lows, which is our initial area of interest. Anything below the pandemic levels will provide us an even bigger opportunity to buy!
For confirmation that we've reversed, we can wait for the break of the red trendline. Alternatively, we can slowly build our positions as we move lower.
The move up is inevitable. It's just a question of when!
Goodluck and as always, trade safe!
$NKE back to $78 before next move down?Interesting price action after-pre market from friday until today. Stock shattered all support with the last gap down, could move further down, but I'm thinking it moves up a bit first. Looking at $78 as a target this week before it drops further. Market is over heated so it could just sit sideways for awhile since it already retraced.
Not trade advice.
BIG drop for NIKE. 20% dump. Will it get a bounce?Close to a 20% drop for Nike on Friday which was its worst drop in the companies history.
Might be one to watch for a short term recovery. Companies sales showing weakness so I wouldn't expect a bigger long term recovery. More an in and out type play or one with a close stop for the bargain hunters if they think it is oversold.
NKE Leap Call / Long Term BuyNike is setting up for a long-term buy / leap call opportunity. The Jeanius Indicator/Screener gave the following reasons why:
Price fell through two untested lows, taking out sell-side liquidity. The indicator shows how much volume came from and how far price ran up from these lows.
NYSE:NKE is also testing a 3M uptrend line from the low of 2017 through the low of 2020.
The brilliant Jeanius Indicator printed "Combo" labels on the chart when this specific combination of multiple confluences has occurred in history!!
NIKE - Dead or a Cheap Opportunity? Nike has been on a rough patch recently & this past week didn't help as it saw it's worst day in over 20 years.
Now the question is, is Nike dead in the water or has price gotten so cheap that it makes for a good investment opportunity?
Now, I'm not here to tell you that you should or shouldn't buy Nike, rather if you were considering it, where you may want to look to do so at & what you need to be aware of if you do.
I'd love for you guys to continue the discussion by sharing your opinions below!
And as always I wish you a fantastic week of trading and investing.
Akil
NKE Nike Options Ahead of EarningsIf you haven`t sold NKE on this Head and Shoulders bearish chart pattern:
Now analyzing the options chain and the chart patterns of NKE Nike prior to the earnings report this week,
I would consider purchasing the 97.50usd strike price Puts with
an expiration date of 2024-7-19,
for a premium of approximately $4.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NKE Short Idea **Reasoning:**
- Nike (NKE) has seen a significant drop, over 20% in one week, due to poor earnings and declining demand for footwear.
- The stock closed with a high relative volume of 8, indicating heavy selling and buying activity involving both new and long-term investors.
- This trend is expected to continue, potentially leading to further declines in the stock price to the $70-$60 range.
- A volume profile analysis shows major dip buyers around $50, suggesting significant support at that level.
- The plan is to short the price earnings gap move with a stop loss at AVWAP and another position with a stop loss at the high of the day.
- Continuous additions on pullbacks into AVWAP during capitulation are recommended.
- This stock is a major watch for both long and short traders due to the big trade potential on the horizon.
NKE ShortNike (NKE) has seen a significant drop, over 20% in one week, due to poor earnings and declining demand for footwear. The stock closed with a high relative volume of 8, indicating heavy selling and buying activity involving both new and long-term investors. This trend is expected to continue, potentially leading to further declines in the stock price to the $70-$60 range. A volume profile analysis shows major dip buyers around $50, suggesting significant support at that level. The plan is to short the price earnings gap move with a stop loss at AVWAP and another position with a stop loss at the high of the day. Continuous additions on pullbacks into AVWAP during capitulation are recommended. This stock is a major watch for both long and short traders due to the big trade potential on the horizon.
Nike’s Plunge. x_xNike Inc. (NYSE: NKE) has experienced a precipitous decline, closing at $75.37, down by almost 20%. This has sparked intense scrutiny and speculation regarding the stock’s future trajectory. Here’s an in-depth technical analysis to offer insights and projections.
Nike’s recent price action is characterized by a sharp sell-off, forming a large bearish candlestick on the weekly chart. This signifies a strong bearish sentiment among investors. The volume spike accompanying this drop indicates significant selling pressure, suggesting that the bearish momentum might persist.
The 10 and 20-day moving averages are significantly above the current price, indicating a short to medium-term bearish trend.
The RSI is on the brink of entering oversold territory, which might indicate a potential for a short-term bounce. The CCI’s extremely negative reading also suggests the stock is deeply oversold.
The negative momentum indicators reinforce the bearish sentiment. The MACD is in negative territory with a widening gap between the MACD line and the signal line, further indicating sustained downward momentum.
Nike’s earnings have historically beaten estimates, with Q3 ’23 showing a surprise of +29.84%. However, the forecast for Q1 ‘24 shows an EPS estimate of $0.59 and revenue estimate of $11.87B. These projections, amid current market conditions, will play a crucial role in determining the stock’s near-term direction.
The sharp decline has been attributed to concerns over future earnings and potential supply chain disruptions. This negative sentiment is reflected in the “Strong Sell” recommendation from various technical indicators.
Key Support and Resistance Levels
Immediate Support Levels:
S1 (Classic): $66.86
S2 (Classic): $24.21
Immediate Resistance Levels:
R1 (Classic): $87.72
R2 (Classic): $130.37
Short Position
Given the strong bearish signals and the significant decline, a short position seems more appropriate at this juncture.
Entry Point: If the stock breaks below $66.86 with high volume, confirming continued bearish momentum.
Price Target: $50.00 (initial), with a potential to drop to $24.21 if the downward pressure remains strong.
Stop Loss: $75.00
Long Position
A long position should be considered only if there are clear signs of a reversal at key support levels.
Entry Point: If the stock shows reversal signals around $66.86 with increased buying volume.
Price Target: $87.72
Stop Loss: $60.00
Speculative Price Targets
Bearish Scenario
If Nike continues to face strong selling pressure and breaks below key support levels, the stock could test the $50.00 mark in the short term. Should macroeconomic conditions and company-specific challenges persist, a further drop to $24.21 is possible.
Bullish Scenario
In a bullish turnaround scenario, where support at $66.86 holds, and positive news or earnings surprises come into play, Nike could rebound towards $87.72. A sustained rally could see the stock attempt to recover towards the $100 mark, aligning with some of the longer-term moving averages.
Nike Inc. (NKE) is at a critical juncture, with strong bearish momentum currently dominating. While there is potential for a short-term bounce, the prevailing indicators suggest a continuation of the downward trend. Traders should consider shorting the stock if it breaks key support levels, with tight stop losses to manage risk. Conversely, a long position may be viable only on clear reversal signals and stabilization around significant support levels.
