On April 25, 2017, the Nike (
NKE
) 100 day moving average (DMA) crossed above its 200 DMA Historically this has occurred 19 times with a minimum gain of 0.495%. It has a median gain of 6.655% and maximum gain of 24.969% over the next 12 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 46.5981. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is neutral.
The true strength index (TSI) is currently -3.6803. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock has ended its long-term move downward. The indicator had flattened out and is slowly beginning to move up, which is positive action for the stock.
The positive vortex indicator (VI) is at 1.0529 while the negative is at 0.9499. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is moving up. The positive indicator recently crossed the negative and also is a good sign for Nike.
The stochastic oscillator K value is 58.7329 and D value is 70.9708. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the price action is trending up. When the D value is higher that the K value, price action is trending down. The current reading declares the stock recently exited overbought territory. The stock does not need to drop much more for these indicators to begin moving up again.
Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction has the stock moving up. Based on historical movement compared to current levels and the current position in its trend channel, the stock could gain at least 1.63%% over the next 9 trading days.
Half of the companies 100 DMA crossing over the 200 DMA have occurred since 2000. The median gain is 4.902% while the minimum gain is 1.312%. Movement near this median gain level is not impossible. If the stock sticks to recent resistance trendlines, the conservative movement is a gain in the 1.63-2.20% range. I always plan for the conservative plays, but this stock has plenty of upside.
NKE
) 100 day moving average (DMA) crossed above its 200 DMA Historically this has occurred 19 times with a minimum gain of 0.495%. It has a median gain of 6.655% and maximum gain of 24.969% over the next 12 trading days. When we take a look at other technical indicators, the relative strength index (RSI) is at 46.5981. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is neutral.
The true strength index (TSI) is currently -3.6803. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock has ended its long-term move downward. The indicator had flattened out and is slowly beginning to move up, which is positive action for the stock.
The positive vortex indicator (VI) is at 1.0529 while the negative is at 0.9499. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is moving up. The positive indicator recently crossed the negative and also is a good sign for Nike.
The stochastic oscillator K value is 58.7329 and D value is 70.9708. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the price action is trending up. When the D value is higher that the K value, price action is trending down. The current reading declares the stock recently exited overbought territory. The stock does not need to drop much more for these indicators to begin moving up again.
Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction has the stock moving up. Based on historical movement compared to current levels and the current position in its trend channel, the stock could gain at least 1.63%% over the next 9 trading days.
Half of the companies 100 DMA crossing over the 200 DMA have occurred since 2000. The median gain is 4.902% while the minimum gain is 1.312%. Movement near this median gain level is not impossible. If the stock sticks to recent resistance trendlines, the conservative movement is a gain in the 1.63-2.20% range. I always plan for the conservative plays, but this stock has plenty of upside.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!