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NIKE Crosses Above its 10-day MA (NKE)

By David Diaz

NIKE (NYSE:NKE) crossed over its 10-day moving average of $58.97 on a volume of 1.7 million shares. Swing traders may find 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 $59.43, 26% above that low. Over the last five market days, 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 7.4%. 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