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After Yesterday's Rally of 1.81% Shares Could Potentially Pullback

By Shiri Gupta

NIKE (NYSE:NKE) traded in a range yesterday that spanned from a low of $55.17 to a high of $56.06. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $55.57 on volume of 3.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 13.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of NIKE have traded between a low of $47.25 and a high of $136.39 and are now at $55.75, which is 18% 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.

Keywords: rebounders Nike

Ticker(s): NKE