Sagar Nandi
This footwear stock may be breaking below support.


360 Analysis Summary: If the daily Memory support is broken, you may look for a low-risk short entry. Weekly has Memory support below the current price. If you take a short trade, you may watch out for possible support at this level.

All the snapshots are from around 1:15 PM EST on 1st May 2019.

Numbering in the text below follows the marking on the pictures.

IMPORTANT: As the price may move up or down during the day, you may confirm a swing trade setup at or near market close.

1) NKE's industry, Footwear, is weakening with (2) deceleration.

3) It is overvalued with (4) reducing earning growth.

5) Weekly displayed Bearish Headwind possible reversal signal a few weeks ago.

6) Daily Flow candle color is magenta, and it is about to break below Memory support.

7) Relative Performance shows it is underperforming the market.

8) Weekly has Memory support somewhat below current price.

nke edge 2019-05-01_13-12-02.jpg  nke funda 2019-05-01_13-13-45.jpg  nke tech 2019-05-01_13-15-18.jpg 
Sagar Nandi
$NKE. I shared the short idea on 1st May in our forum. I had taken a short position with Put options at that time. Today I exited some of my position at 100%+ profit.

NKE PnL 2019-05-06_9-40-03.jpg 

(1) Short idea shared and taken on 1st May - CUE Go With Flow trend following setup.
(2) Profit booked today at the Lower Boundary - usual initial profit target for GWF setup.
CUE trend following setup works just as well as other CUE setups.

NKE followup 2019-05-06_9-46-46.jpg 

Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

CUE Elite
CUE Global & CUE Finder
CUE Edge, Vital, Index
Metastock Software (One-Time)
Metastock Data/Subscription
Data Region