NKE: $28.70 in Play After Earnings MissNIKE, Inc. Class BBATS:NKEtimothysmith78Shares in Nike (NKE) plunged 9% in extended trading on Thursday after the sports apparel and equipment maker reported quarterly sales below Wall Street expectations and announced a restructuring plan that will see layoffs starting next year. From a technical standpoint, NKE shares remain in a steep multi-year downtrend after forming a textbook head and shoulders top. The price also trades decisively below the 200 month moving average, settling the stage for today's post earnings sell-off. How low will NKE shares go? There's little in the way of support until $28.70, a location on the chart where the stock may attract buying interest from bargain hunters around the May 2012 swing high.