(NYSE: NKE) shares are trading at just above $100 today, which is smack in the middle of the range that investors have seen over the past year. The stock's high in that period was $130 and its lowest point was $89.

Bulls believe it won't be long before the footwear giant returns to those highs with help from rebounding consumer spending and a continued shift toward direct-to-consumer sales. But Nike could also struggle to implement its turnaround plan, keeping pressure on the underperforming stock.

Let's look at why investors should give a bit more weight to the bearish outlook for Nike stock right now.

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Source Fool.com