Anthony Speciale Stock Market Analyst

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MORE MONEY, MORE QUICKLY, MORE SAFELY.

Is Nike Stock Setting Up For a 15% Move?

I’ve been watching Nike (NKE) for a few weeks now, and it’s been ultra-reactive to an area of support I’ve identified.

If you’ve fired up the television lately or you’ve listened to that old thing called a radio or even read something on the internet that’s market-related, you’ve likely heard the word “recession” thrown around.

If we can find moves like this week after week, we can build a heck of a portfolio!

That’s exactly what I’m anticipating in my new service called Part Time Profits because we focus on weekly settlements.

Some weeks, we’ll have multiple setups transpire when the market is cooperating.

Other weeks when the market has stalled, we’ll preserve our resources…

Just Chart It

Now, I’ve been watching Nike (NKE) for a few weeks, and it’s been ultra-reactive to an area of support I’ve identified.

In fact, the price broke, failed, retested and has broken down again.

We know our hand-drawn analysis is done correctly when price is reactive to the area(s) we identify as either support or resistance.

Nike’s price action was reactive to this support/resistance area now for nearly seven weeks before it finally broke down for the second time.

The great part of the way I do my analysis is that we know in advance when something is setting up… Usually up to several weeks before it actually does.

All I have to do is check in on it at the end of the week to see if something appears actionable or not.

Well, I opened up my favorite charting platform this past weekend and found that Nike had finally broken out!

That triggered the opportunity to sell Nike for a potential shorting opportunity.

The Short Idea

As I’ve shared with my readers in the past, I’m not one to openly short a position, however, as I gravitate towards the options market and simply purchase a put option. Let’s check out the chart setup…

Weekly Chart of Nike (NKE) – Source: TradingView

As the chart suggests, there’s approximately a 15% return on investment to be had in price action from the horizontal red line to the horizontal green line below.

For a potential option play, I’d be looking at the NKE September 16, 2022, expiration $95 strike put option (NKE220916P00095000).

And I’d like to pay no more than approximately $4.00 per share, or $400 per contract.

Why the options market? Well, for two reasons…

First, limited risk. And second, leveraged upside.

That sounds like a win-win to me! Even if I lose, I know my risk before I even get started.

Did You Miss the Big Premiere?

Were you able to join me yesterday for the unveiling of Project 6×6 and my brand-new trading service, Part Time Profits?

If not, you need to check the encore presentation right here at your convenience.

I have revealed the exact “1% trading blueprint” I used to go from working day and night as an auto mechanic…

To banking $100,000+ in real trading profits six straight years in a row.

All by only logging on to my computer from the comfort of my home for 1-2 hours every week…Click here to watch the full replay now!

Rules to Live By

“Happiness depends on your mindset and attitude.” Roy T. Bennett

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

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