Ron analyzed the spot $NKE was trading in during the members-only webinar as a potential swing candidate.
In developing a potential trade, Ron determines a few key factors as an entry criteria and the point at which the trade must be managed.
- RSI & CCI do not provide too much additional evidence to the trade but do not discredit the idea
- Earnings were over one month away in December, which offers plenty of time for the trade to develop
- Within the last week, there has been Sweeper Activity showing sizable call buyers coming in to purchase $NKE contracts
- The 21 Day Exponential Moving Average acts as the point to cut the trade if that level breaks