Mar. 24 at 10:41 AM
$NKE – TREND IS STILL DOWN. RESPECT THE STRUCTURE.
👉Click to view @NasdaqKnight for timely updates amid the volatility.
No bounce yet. No reversal signal. Just a clean descending channel that’s been respecting itself for months.
TECHNICAL PICTURE:
Lower highs: Last pivot high at
$82.40 (Feb 2026) , current price
$74.15 .
Lower lows: Recent low at
$72.85 – just above channel bottom.
Negative momentum: RSI 38, MACD bearish cross intact.
Volume: Below 30-day avg (11.2M vs 13.8M) – no accumulation yet.
KEY LEVELS:
Support:
$72.85 (channel bottom) – break = next leg to
$68.00 .
Resistance:
$76.20 (20-day MA) – reclaim needed for relief rally.
FUNDAMENTAL BACKDROP:
FY2025 closed with revenue -10% YoY .
China headwinds + inventory normalization still in play.
No guidance upgrade = no structural bid.
THE POINT IS NOT TO ANTICIPATE A BOUNCE.
Wait for the chart to truly change:
Break above
$76.20 on volume
Higher low above
$72.85
