Equities

NKE: The Tape Argues Short — Continuation Signal Confirmed After Q3 Earnings Collapse

Nike collapsed 15.5% on 6.5x volume after Q3 earnings. Continuation short confirmed — below 20-week EMA and 10-day EMA. Target $38–$40, stop $48.50, R:R 1.7:1.

Blue Ocean Research

02 Apr 2026 — 8 min read

Published April 2, 2026 | Equity Research | Consumer Discretionary

Rachel Kensington

Senior Equity Analyst · Blue Ocean Trading Solutions

Technical Overview

NIKE sits roughly 25% below its 20-week exponential moving average — currently at $59.41 — and has been in an unambiguous bearish structural posture for the better part of six months. The weekly bias is not a close call. The stock opened fiscal 2026 trading at $74.57, made a sustained move downward through the fall, and every attempted rally has stalled well short of reclaiming that EMA. That is the lens through which every trade idea on this name must be viewed right now: the setup favors shorts, full stop.

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