Nike shares have fallen to their most oversold level on record, adding another extreme signal to a selloff that has already pushed the stock close to a 12-year low.
Barchart flagged Nike’s monthly RSI at roughly 27.8, the lowest reading in the stock’s long-term history. NKE closed Friday at $36.80, just above its 52-week low.
An RSI below 30 is traditionally considered oversold, but that does not necessarily mean a rebound is about to begin. In Nike’s case, the technical weakness is arriving alongside persistent concerns about growth, competition and the pace of its turnaround.
Nike’s S&P 100 Exit Adds Another Blow
Nike is also preparing to leave the S&P 100, with Palo Alto Networks set to replace it before trading begins on Sept. 21.
The move comes after a long decline from Nike’s 2021 peak and follows the 12-year low Coinpaper tracked in August.
We also recently examined Nike’s S&P 100 exit as the composition of major U.S. indexes continues shifting toward technology.
That makes the current RSI reading more than just a technical curiosity. It reflects how aggressively investors have repriced Nike after years of weaker momentum and repeated concerns around its core markets.
Wall Street Still Sees More Risk
The historic oversold signal has not stopped analysts from becoming more cautious.
Morgan Stanley recently initiated Nike at Underweight with a $31 price target, implying further downside from current levels.
Nike is still dealing with weak growth in important markets, including China, while investors wait for clearer proof that its turnaround is gaining traction. Recent results have also shown pressure across direct-to-consumer and digital sales.
That tension helps explain why the stock can look historically oversold without immediately attracting buyers. Coinpaper previously highlighted the same divide when Nike became the Dow’s worst-performing stock.
