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Recent 52-Week High Exceeded in Shares of Nike Inc -Cl B (NKE)

By Nick Russo

Nike Inc -Cl B (NYSE:NKE) traded today at a new 52-week high of $71.60. So far today approximately 1.2 million shares have been exchanged, as compared to an average 30-day volume of 9.1 million shares.

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

Nike Inc -Cl B has overhead space with shares priced $71.23, or 0.4% below the average consensus analyst price target of $71.51. The stock should discover initial support at its 200-day moving average (MA) of $61.68 and subsequent support at its 50-day MA of $60.55.

In the past 52 weeks, Nike Inc -Cl B share prices have been bracketed by a low of $49.01 and a high of $71.60 and are now at $71.23, 45% above that low price. 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 subscribers consider buying shares of Nike Inc -Cl B on April 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.08. Since that recommendation, shares of Nike Inc -Cl B have risen 3.3%. We continue to monitor NKE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows nike inc -cl b

Ticker(s): NKE