Shares of Nike (NKE) have been in a choppy bearish correction throughout 2016. However, this year-long consolidation appears to be over. Check out the weekly chart.Nike Weekly Chart(click to enlarge)Bullish Continuation:- As we can see from the chart above, price basically retreated from 68 at the end of 2015 to 49 by the end of 2016. - Price mostly held above 50, and above the 200-week simple moving average.- Then after consolidating above 50 for a few months, price shot up in February, breaking the consolidation resistance.60 and Beyond,- I think the current breakout can bring price up to 60, where price would be challenged by a resistance pivot from Oct. 2016.- However, I think price won't pullback under 53 if Nike is truly on a bullish continuation path.- A break below 52 would likely bring back the correction mode.- Staying above 53 would confirm the bullish breakout and put the 68.00, 2015 high, in the scope for 2017.