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After Yesterday's Rally of 1.84% Shares Could Potentially Pullback

By Amy Schwartz

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $67.47 to a high of $68.83. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $68.64 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Nike Inc -Cl B have traded between a low of $49.01 and a high of $68.83 and are now at $68.78, which is 40% 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 subscribers consider buying shares of Nike Inc -Cl B on December 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.24. Since that recommendation, shares of Nike Inc -Cl B have risen 6.5%. We continue to monitor NKE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders nike inc -cl b

Ticker(s): NKE