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NIKE Crosses Below its 10-day MA (NKE)

By Amy Schwartz

Today, shares of NIKE (NYSE:NKE) have fallen below their 10-day MA of $51.70 on a volume of 1.9 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, NIKE share prices have been bracketed by a low of $47.25 and a high of $136.39 and are now at $51.32, 9% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.12% lower over the past week, respectively.

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 18.2%. 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