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NIKE Bullish Moving Average Crossover Alert (NKE)

By Nick Russo

Today, shares of NIKE (NYSE:NKE) have advanced above their 10-day MA of $56.94 on a volume of 2.3 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, NIKE has traded in a range of $47.25 to $136.39 and is now at $57.63, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of NIKE on December 24th, 2015 by issuing a Downtrend alert when the shares were trading at $63.44. Since that call, shares of NIKE have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Nike

Ticker(s): NKE