NKE - falling wedgeNIKE, Inc. Class BBATS:NKEvf_investmenthi traders Technical Breakdown Falling Wedge Pattern: Structure: NKE has been oscillating in a prolonged multi-year downtrend within a converging falling wedge pattern (marked by the two downward-sloping red trendlines). Implication: Falling wedges are inherently bullish reversal patterns that reflect diminishing selling momentum as price ranges narrow near the apex. Oversold RSI Signal: Indicator Value: The Monthly Relative Strength Index (RSI 14) has dropped into deeply oversold territory (~28.84, circled in yellow), floating well below the standard 30 oversold threshold. Historical Significance: On macro timeframes like the monthly chart, an oversold RSI is a rare occurrence that historically signals extreme seller exhaustion and prime long-term value areas. Projected Target / Measured Move: Target Level: The green horizontal line marks the major resistance / target zone at $94.58 (near the $95.00 mark), matching the height profile of the wedge setup. Execution Plan Entry Strategy: Option A (Aggressive): Begin scaling in near the bottom support boundary of the wedge (~$38.00–$39.00 range) to capture extreme value. Option B (Conservative): Wait for a monthly breakout and close above the upper descending trendline before entering. Stop Loss (Risk Management): Placed below the lowest trendline support/52-week lows (e.g., ~$35.00 level) to protect against further downside extensions. Take Profit: $94.58 (representing potential gains of >140% from current levels).