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Nike (NKE) - Advancing $115.50

Nike  (NKE)     Retail - Apparel  

Purpose of Analysis:
> Identify stage the stock is trading in.
> Identify key levels of Resistance & Support.
> Analyze indicators to gain insight to direction of stock price.

4 Stages of a stock cycle: Basing, Advancing, Topping, Declining

Analysis:

Advancing Stage

- Pivot Point: $110.10
-
Current price: $115.05
- Resistance: $117.42, then new highs
- Pullback held $110.00 support
- Trading ABOVE 20 & 50-day Moving Average (dMA)
- Rising Relative Strength Index (RSI)
- Positive MACD (momentum indicator)
- Positive Money Flow (CMF)
- Above Average Buying Volume
- Trade below $110 would be negative, next support $105

Pivot Point: Price that is $0.10 (10 cents) above most recent resistance (intra-day high) within its base.

Breakout: Stock achieves a higher price greater than previous resistance on surging volume.

Stop Loss Protection use ALL TIMES to minimize loss from initial purchase price as well as move stop limits up during advance to lock in gains during pullbacks. Genearl Rule: stop loss 3 - 7% below purchase price.

Disclaimer:
Material is provided for EDUCATIONAL & EVALUATIVE purposes only and does not constitute a recommendation or endorsement to buy, sell or hold with respect to any security or investment. Chart reading is an interpretation and subjective process. There are no guarantees the stocks presented will perform in the manner of the interpretation as many factors can affect performance.


Chart courtesy StockCharts.com   Composed by SelectiveChartists.com 


 



 


 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 



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