As of May 22, 2026, NKE (Nike, Inc. - Class B) is in a falling knife state on the weekly chart, with a confidence level of 74%. Key support is at $43.0 and key resistance at $52.0. Weekly downtrend with price ~$44.67 making fresh LLs; all key MAs overhead and sloping down; RSI-14 ~34.8 (weak/near-oversold).
Bearish continuation: price chops briefly then breaks $43 support, extending the impulse leg lower (Elliott: still in late wave 3/5 of a larger C/3 decline), before a sharper oversold bounce.
Relief rally / bottoming attempt: undercut near $43 holds, then mean-reversion toward the falling EMA50 zone; rally likely corrective (Elliott: wave 4 / B bounce) unless it can reclaim key MAs.
Weekly close below $43.00
Two weekly closes back above $59.90 (EMA50) holding
Scale-in at the current swing-low support band ($41-$44); add on a clean breakdown/flush into likely fib-extension demand ($37-$40); heavy add only if capitulation drives to deeper extension/base zone ($33-$36) while RSI is depressed.
Trim into first major mean-reversion (EMA50/EMA100 region $60-$69), trim more at EMA200/overhead congestion ($72-$82), and consider full exit if price becomes materially stretched back into the long-term MA stack ($88-$98) without a clean HH/HL trend reset.
As of May 22, 2026, NKE (Nike, Inc. - Class B) is in a falling knife state on the weekly chart with 74% confidence. Weekly downtrend with price ~$44.67 making fresh LLs; all key MAs overhead and sloping down; RSI-14 ~34.8 (weak/near-oversold).
On the weekly timeframe, NKE has key support at $43.0 and key resistance at $52.0. The most likely scenario (bearish) targets $40.0 and $36.0, with a revert level at $48.0.
NKE (Nike, Inc. - Class B) is currently classified as falling knife on the weekly chart, with 74% confidence. Confirmation requires: Weekly close below $43.00 This would be invalidated by: Two weekly closes back above $59.90 (EMA50) holding
The most likely scenario (bearish) targets $40.0 and $36.0, with a revert level at $48.0. The alternative scenario (bullish) targets $52.0 and $60.0.
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