NikeNIKE, Inc. Class BBATS:NKEContraryTraderIt's oversold, and before I go into the lengthy technicals I will say this I believe NIke will close gap at at 52 before it breaks below 40.00... Alright so I started on the monthly time frame and 3 things stood out to me. 1. Outside its monthly Bbands here In the history of this stock, it has only had its entire monthly candle outside Bbands once and that was 2009 financial crisis. I think it will push back inside the Bbands my mid May. 2. Price action Price action support at 43 is intense 3yr support 2015-2018 At these oversold levels you would usually get a nice bounce off sturdy support like this. 3. For this perspective you will have to switch to Logarithmic . 30 yr trendline support retest around 41-43.00 Combining the above 3 and I think the evidence to buy the dip here is strong. The thing you have to realize is, this isn't a big tech company and unless they're printing more stimulus checks don't expect big tech like upside moves . I think for the most part this is a long term investment 3-5yrs minimum. Price could accumulate (Trade sideways) between 40-60 for a year or 2 before a new uptrend. If you insist on option trading this the upside you should look for is 52-55 within at 2 month window. Wether you're trading Nike or investing, the hard stop loss comes below 39.00 Using Fibonacci levels from All time low and All time high and you get .236 at 39.30. Below 39 and they may remove Nike from S&P500 (Seriously). So the entry is 43.00, and be willing to average and by more into 39-40.00 if need be . The monthly 20/200 along with .382 fib is around the 62-65 level and until Nike can reclaim that 40-60 is the range .