Getting A Jump On Nike's 15% Rally

by Mike Paulenoff
June 27, 2021 • 6:02 PM EDT
During the early afternoon last Thursday (6/24), several hours prior to the release of Nike's (NKE)'s quarterly earnings, Mike Paulenoff posted his chart analysis designed to answer the following question: Does the technical set up in NKE heading into earnings hint at a likely directional price reaction to the news?
Mike wrote: "From the look of my attached Big Picture WEEKLY Chart, the stock looks like it could be about to emerge from a 6-7 month high level bullish digestion period and pattern, into a new upleg that projects to new ATH's above 147.95... possibly in reaction to tonight's earnings report. A climb above key resistance at 138.00-139.40 will trigger projections in the vicinity of 150... If the near and intermediate term technical set up in NKE is hinting at a reaction to the earnings news, I am of the opinion that the reaction is likely to be to the upside."
NKE was trading at 133.56 at the time. After NKE reported stellar earnings that beat The Street's expectations across all metrics, the stock rocketed above Mike's projected next upside target of 150.00 to a post-earnings high of 154.83, or 15.9% above where NKE was trading at the time of Mike's alert.
What's next for NKE? Mike's chart on NKE (shown below) shows his preferred near-term price path, but the situation undoubtedly will be fluid and dynamic, which will require Mike to post frequent updates in the upcoming sessions evaluating developing risks and rewards implied by NKE's unfolding pattern.
NKE is the latest example of Mike informing MPTrader members about a potentially significant directional price move derived from decades of experience recognizing and interpreting technical set-ups in a particular stock, ETF, macro index, crypto currency, commodity, or precious metal.
Join Mike and our members for constant intraday analysis and discussion about opportunities throughout the trading day.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Last Wednesday afternoon (6/11/25), with META circling 700 after establishing a 4-month new post-April 2025 recovery rally high at 708.87, this is what we discussed about the current technical setup: Just a heads up that my pattern work is warning me that the 52% upmove from the 4/07 low at 467.31 to today's (6/11) high at 708.87 has the right look of a completed, overextended, overbought, unconfirmed rally peak that leaves the price structure vulnerable to a correction of some magnitude.
On May 6, 2025, during the final hour of trading, and before AMD was scheduled to report quarterly Earnings that evening, I posted the following analysis to our MPTrader Discussion Room:AMD reports Earnings after the close... The only conviction I can derive from my pattern work is that the 4/08/25 low at 76.48, which represented a 66% correction from the March 2024 high at 227.30, has the right look of a significant low that completed a major bear phase.
On April 22, 2025, I posted the following analysis about my technical setup work in XBI (SPDR SP Biotech ETF):XBI (SPDR SP Biotech ETF)-- Could it be? Could it be that the near-40% correction from the 11/11/24 multi-year high at 105.47 to the 4/09/25 low at 66.66 fully discounted all the bad news in this sector? From a BIG Picture perspective, my attached Daily Chart shows this month's spike low into the vicinity of the previous major corrective low-zone starting in May 2022.
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
Last Thursday (4/17/25) afternoon, ahead of NFLX (Netflix) post-close earnings report and the three-day Good Friday holiday weekend, we discussed the technical setup and whether or not the NFLX pattern was positioned to react positively to the news : The NFLX setup heading into Earnings later today is favorable for upside continuation above the prior two rally highs at 993.45 (4/15) and 998.70 (3/25), but not to a new ATH above 1064.