Technical Summary: NKE is in a long term uptrend. The stock on the 5 year chart has moved from the bottom left to the top right of the screen. The stock had a 2 year consolidation in the middle of the 5 year chart and recently broke out of this on the one year above. On the one year chart the stock provided numerous buy points for breakout traders. In recent sessions the stock gapped to new all time highs on a well received earnings update. The stock now therefore is overextended and traders should look for the stock to consolidate or retest the gap in the breakout before considering an entry.