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Look for Shares of Nike Inc -Cl B to Potentially Pullback after Yesterday's 1.16% Rise

By David Diaz

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $87.54 to a high of $87.84. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $87.00 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Nike Inc -Cl B has traded in a range of $64.99 to $88.59 and is now at $87.84, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Nike Inc -Cl B and will alert subscribers who have NKE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders nike inc -cl b

Ticker(s): NKE