• Return to Headlines

NIKE Crosses Below its 10-day MA (NKE)

By Nick Russo

Today, shares of NIKE (NYSE:NKE) have crossed bearishly below their 10-day moving average of $51.60 on a volume of 5.2 million shares. This may provide short-term investors a chance 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 $50.50, 7% above that low price. 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 18.0%. 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