Nike Inc

NKE is entrenched in a Stage 4 downtrend, evidenced by support failure and a consistent sequence of lower highs and lower lows under declining EMAs and SMAs. Despite extreme oversold readings, there are no signs of absorption or bullish divergence. Short-term price is rejecting around the 9/20 EMA zone with clear follow-through lower. We recommend selling into any failed rallies into the declining EMA region.

• ↑Running segment revenue +20% YoY driven by innovation
• ↑North America wholesale revenue +10% YoY on Win Now strategies
• ↓Q4 revenue down 1% reported (−4% ex-currency)