NKE Trade on Sep 25, 2019 10:12 from Cklamb: Tradervue User Stock Trades.

NKE
Intraday Fundamentals
• Nike stock was climbing more than 5% in after-hours trading on Tuesday, following the company's fiscal-first- quarter earnings report, in which earnings and sales came in ahead of expectations.
• The back story. Nike shares (ticker: NKE) haven't quite kept pace with the broader market this year, rising about 17.5%, although that is far ahead of other retailers. The company hasn't been hit has hard by tariffs as some peers, and investors have applauded its product innovation and enviable position within the athleisure trend. Still, some worry about the trajectory of the company's sales in China , as well as in the U.S. following disappointing shoe-retailer results. Its previous report, in late June, didn't wow investors.
• What's new. Nike said it earned 86 cents a share on revenue of $10.7 billion . Analysts were looking for 71 cents a share on revenue of $10.43 billion .
• Sales were up 10% for the Nike brand, excluding currency fluctuations, which the company said came from general growth in the category, along with direct and wholesale channels. North American revenue rose 4%, Europe , Middle East , and Africa climbed 12%, and Asia-Pacific and Latin America led with a 13% gain.
• The company said gross margins rose 1.50 percentage points in the quarter, and it repurchased 11.9 million shares in the period. Inventories were up 12% year over year in the quarter, while fixed costs increased 9%, although that didn't seem to bother investors much.
• Looking ahead. Nike has a long history of beating bottom-line consensus estimates, and this most-recent quarter is just a return to form in that sense. Still, it is a relief after a rare earnings miss in the previous period and may be easing some investor fears that Nike , like many other retailers, could be feeling a chill from the trade war/. That is an especially worrisome issue for big multinational brands that are counting on building a presence in China . There was broad-based strength across geographic regions and a double-digit climb in footwear sales. The Jordan brand continued to perform well, as did Nike's direct-to-consumer business, which has been a focus in recent years as traditional retail channels fluctuate.
• From NIKE Q1 Earnings Conference Call: Jordan Brand Saw 'Healthy' Double-Digit Growth In All Geographies
• From NIKE Q1 Earnings Conference Call: Digital Sales Up 42%, CEO Highlights Double-Digit Growth In Greater China For 5 Years In A Row
Technicals
ADV 5.92 RVOL 1.63 BETA .84 ATR 1.62 Short 1% Inst Own 84.60%
Daily

• This tends to sell off the day after gapping to a new highs over the past 3years
Hourly

• This adds a possible high of day level from a couple weeks ago. Not strong
Intraday

Trading Strategy
Support 90,91, 89.30, 88.50 Resistance 92 and 92.65 Pre-market
• Long Bias
• A long at 90 if it wicks to this on the open 50 cents worth risk target 92 take a partial 90.75 to 91 set to break even and look add
• Short or reverse at 92 if it is unable to break and hold, risk the PM High at 92.65
• Take a long if this base above 92 stop below the nearest low unless this happens at the openings. If that happens, long with the risk @91.75
• Use the first 15.. to set an interim opening range and replan entries as it starts to trade on side or the other of that range
• 89.30 is an S2 long, stay alert and read the tape here and see if it will bounce off this or
Reading the Tape
I I would say the tape help me take risk when I though the set ups represented. The momentum of the tape did prompt both the long and the short scalp on momentum.
I did see some heavy offers around 92.15 after getting stopped out my second attempt to long this to HoD.
Trade Management

Trade Review
• Long bias hurt me a bit again today
• The trades I did take were all set up well with good RvR with a little slippage
• There were two areas where I could have gotten involved with a plan. One of those was a set up that I need to keep stats
• I needed to grind on this with a little more focus today and stick with the trade small but often approach to building the playbook