Nike Remains Near Multi-Year LowsNIKE, Inc. Class BBATS:NKEFOREXcomThe recent performance of Nike continues to highlight persistent weakness in the stock's short-term price action. Despite the rebound attempt seen toward the end of the week, the stock still shows a decline of nearly 5.0% over the last three trading sessions, reinforcing the bearish bias that continues to dominate recent movements. Selling pressure has remained in place even after the company's earnings release this week. Although earnings per share came in at $0.48, beating expectations of $0.43, revenue reached $11.20 billion, slightly below the $11.32 billion expected by the market. In addition, the company indicated that revenue growth could slow further during 2027, a development that has limited investor confidence and failed to improve the outlook for the coming quarters. As a result, the weakness observed in the stock is not only a short-term issue but part of a broader trend that has been developing for several months and could remain relevant in the weeks ahead. Long-Term Downtrend Remains Dominant For several years, Nike's daily chart has maintained a well-defined bearish trendline. Selling pressure continues to dominate the broader structure and keeps the stock trading near levels not seen in years. So far, no meaningful recovery has emerged capable of challenging this long-term bearish pattern. Unless the stock is able to reclaim important technical references such as key moving averages, the current bearish bias could continue extending the prevailing downtrend over the coming weeks. MACD The MACD histogram has recently returned to trading slightly below the 0 neutral line. While this reading does not necessarily reflect aggressive selling pressure across short-term moving averages, it does highlight the lack of consistent buying momentum within the chart. As a result, the current bearish bias could remain relevant in the weeks ahead. RSI A similar picture can be seen in the RSI, which continues to trade below the 50 neutral level, reinforcing the importance of bearish momentum within the market. However, it is also worth noting that the indicator is now approaching the 30 oversold threshold, a situation that could signal excessive selling pressure in recent weeks and potentially create room for short-term bullish corrections. Key Levels to Watch $45.8 – Key Resistance: This level represents the most important upside barrier on the chart, aligning with highs observed in previous months and trading close to the 200-period simple moving average. A sustained recovery toward this area could begin to challenge the dominant bearish structure, increase the likelihood of a broader consolidation phase, and potentially place the long-term downtrend at risk. $37.50 – Near-Term Barrier: A level that coincides with the 50-period simple moving average and could become the primary reference to monitor in the event of short-term bullish corrections. $28 – Key Support: This level represents the most important downside barrier on the chart and corresponds to price levels not seen since 2013. Sustained moves toward this zone would reinforce the dominance of the current bearish bias and could open the door to a further acceleration of the long-term downtrend in the weeks ahead. Written by Julian Pineda, CFA, CMT – Market Analyst