NIKE INC -CL B (NKE)       127.98  +0.45 (+0.35%)

127.98  +0.45 (+0.35%)

US6541061031 - Common Stock

Technical Rating

7

We assign a technical rating of 7 out of 10 to NKE. In the last year, NKE was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.



The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
NKE is part of the Textiles, Apparel & Luxury Goods industry. There are 48 other stocks in this industry. NKE outperforms 72% of them.
NKE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
NKE has an average volume of 7790310 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, NKE did better than 83% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
NKE is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 8.48% 35.92% 10.97% -12.60% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 83.69 82.22 - 149.68
NKE Weekly chart
NKE Daily chart

Support/Resistance Analysis


102.79

130.15
We found 3 important support areas.
  • A support zone ranging from 124.25 to 124.53. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • Support @112.28 from a trend line in the daily time frame.
  • Support @103.83 from a horizontal line in the daily time frame.
We found 1 important resistance area.
  • A resistance zone ranging from 128.50 to 128.86. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

8

NKE has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 128.5. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 124.53, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NKE in the last couple of days, which is a good sign.

  • Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
128.87124.244.63 (3.59%)25.00%
An entry @128.87. This is a Buy Stop order right above the resistance zone.An exit @124.24. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 4.63 points, which is 3.59%.For a 0.90% total portfolio risk, you can invest 25.00% of your capital in this trade.

  • The distance between exit and entry is rather small compared to the average daily movement of NKE. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NKE Daily chart

NIKE INC -CL B127.98

NYSE:NKE (1/27/2023, 1:46:09 PM)+0.45 (+0.35%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Consumer Discretionary
GICS Industry Textiles, Apparel & Luxury Goods

Performance
Today 0.35% 1 Week 2.41%
2 Weeks -0.32% 1 Month 8.48%
3 Month 35.92% 6 Month 10.97%

Volatility
ATR(14) 3.45 ATR(20)% 2.53%
ATR Inc -26.08% Range Today 1.3

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 83.69 Mansfield 1.11
10 Day High 129.23 10 Day Low 112.36
20 Day High 129.23 20 Day Low 112.36
52 Week High 149.68 52 Week Low 82.22
CS1 End 124.53 CR1 Start 128.5

Volume & EV
DER(3) 2.94% DER(5) 3.98%
Volume 3.23M Volume Incr -37.09%
Vol(5) 5.70M Vol(50) 7.79M

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