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Look for Shares of Nike Inc -Cl B to Potentially Pullback after Yesterday's 7.99% Rise

By Shiri Gupta

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $80.01 to a high of $84.68. Yesterday, the shares gained 8.0%, which took the trading range above the 3-day high of $73.68 on volume of 7.6 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, Nike Inc -Cl B share prices have been bracketed by a low of $60.00 and a high of $105.62 and are now at $85.76, 43% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.9%.

SmarTrend is monitoring the recent change of momentum in Nike Inc -Cl B. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nike Inc -Cl B in search of a potential trend change.

Keywords: rebounders nike inc -cl b

Ticker(s): NKE