Technical Summary: NKE has been in an uptrend for most of the last 5 years. There was a long period in the middle where the stock trekked sideways as the market digested previous gains. This lead to a breakout to new highs at the start of the year. More recently the stock has pulled back with the wider market and currently trades below its 50 day moving average. The pullback has the feel of a “buy the dip” situation but the realisation of that theory will probably depend on how things play out in the wider market.