NKE trade ideas
Nike - If Correct, The Daily Model Says Nike's Run is OverNKE didn't just blow a sneaker, that's it for the stock price if i am correct.
brschultz / markettimer777
Reversal Symmetrical Bottom Declining This is what I see. I might be wrong count here. Still learning about EW.
Nike Stock Analysis: Bulls Not in the Clear Yet...Conclusion for today’s Analysis: Price closing above the September 21, 2018 high of $85.98 indicates resumption of the bullish trend in Nike.
Over a year and 2 months of price action is covered in today’s Nike stock analysis using a 6 hour timeframe.
The previous bullish price channel lasting over 11 months was broken to the downside, with price retracing to ~$66.45.
Bullish momentum resulting from the above mentioned price level is yet to break above the previous high of $85.98 reached on September 21, 2018, therefore implying patience on entry of any long (buy) position that will be considered very conservative.
$60.55 is used as the lower price level for support indicated on the chart with the upper boundary being $66.45. A break below $60.55 in this case indicates resumption of the sell off from September 21, 2018, with lower prices to be expected.
A bearish channel (tentative) drawn on the chart needs to be monitored if Nike does indeed fail to close above price high of $80.96 established on Friday, the 18th of January, 2019
NKE-USmight breakout in the coming days since it is gaining upward momentum.
bullish divergence on RSI
Nike 8 RRR short ahead of earningsTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
NKE Do not burn your NIKES, even if they're running below trendThey could be dirty, cracked and stinky as hell, but they will always be Nikes.
Definitely, the trendline is calling to the price so it looks like we have a bearish movement here with some levels at $80.41, $75.62 and finally at $71.74. I'd be ok just with the second target. What do Wall Streeter boys think about? They have a target of around $85.61 a share, which of course that target has already been hit. However, also mine at $80.41.
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Nike analysisSell off from all time highs through the uptrend line, still waiting for a price to go lower to 61.8% fib, which is also previous support buy zone for a long and 100SMA for a better setup.
NKE Long Term Short$NKE looks like an amazing short based on the monthly LOG chart... Has a very clear ascending wedge that looks like its just about to breakdown. Additionally, there is a TRIX/MACD bear cross as well as a bearish divergence on the RSI! Good luck!
