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NIKE Crosses Above its 10-day MA (NKE)

By Shiri Gupta

NIKE (NYSE:NKE) crossed over its 10-day moving average of $55.59 on a volume of 1.6 million shares. This may provide swing traders with an opportunity 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 $55.76, 18% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-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 13.6%. 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