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NIKE Crosses Below its 10-day MA (NKE)

By James Quinn

NIKE (NYSE:NKE) shares have crossed bearishly below their 10-day moving average of $53.47 on a volume of 3.7 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.

NIKE share prices have moved between a 52-week high of $136.39 and a 52-week low of $47.25 and are now trading 13% above that low price at $53.29 per share. 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 13.8%. 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