The Stocks Channel goal is to help fellow stock traders on making a profit! This channel features stocks news, stocks trading ideas, and stocks tips from fellow Dizkover members. We are mostly traders by profession.
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A lot of our members are also active at Stocktwits and Yahoo finance boards. But often, Dizkover members get the tips fist. So checkout out the Stocks Channel often for fresh stock trading tips!
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NKE rising wedge bearish pattern
Nike (NKE) beat estimates on top and bottom lines, posting earnings per share of $0.76 and revenue of $6.97 billion, up 13% from a year ago. Analysts had expected $0.72 and $6.69 billion, respectively. Per-share profit increased 4% from a year ago.
Nike CEO Mark Parker called the results "strong" and said the quarter is evidence that the company's strategy of focusing on the biggest opportunities for growth is working. Nike did not provide guidance for the current quarter.
The earnings beat only means profit taking for most people so expect a short term pullback. So be cautious.
Watch out if the price goes below the 50% Fibonacci level which is around $75. If it does, it could pullback as much as $72 and meet the 200 daily EMA.
What is the Rising Wedge Pattern?
The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.
Dizkover
#StockIdeas: #NKE rising wedge bearish pattern could be an opportunity to go #short
Updated March 24, 2014 ● 1,061 views
Fresh Stocks News, Tips, and Ideas!
The Stocks Channel goal is to help fellow stock traders on making a profit! This channel features stocks news, stocks trading ideas, and stocks tips from fellow Dizkover members. We are mostly traders by profession.
Dizkover Members Get The Tips First!
A lot of our members are also active at Stocktwits and Yahoo finance boards. But often, Dizkover members get the tips fist. So checkout out the Stocks Channel often for fresh stock trading tips!
Join Stocks Channel!
Stocks Channel is open for everyone. Whether you are a findamental or technical trader, you are welcome to share your own trading ideas and tips.
Common Hashtags:
Terms Of Use:
Trade at your own risk! We are not responsible in the event of trading loss. Always use your own research and analysis before you trade. Any tips and recommendations you find at thie website can be wrong.
Nike (NKE) beat estimates on top and bottom lines, posting earnings per share of $0.76 and revenue of $6.97 billion, up 13% from a year ago. Analysts had expected $0.72 and $6.69 billion, respectively. Per-share profit increased 4% from a year ago.
Nike CEO Mark Parker called the results "strong" and said the quarter is evidence that the company's strategy of focusing on the biggest opportunities for growth is working. Nike did not provide guidance for the current quarter.
The earnings beat only means profit taking for most people so expect a short term pullback. So be cautious.
Watch out if the price goes below the 50% Fibonacci level which is around $75. If it does, it could pullback as much as $72 and meet the 200 daily EMA.
What is the Rising Wedge Pattern?