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Look for Shares of Nike Inc -Cl B to Potentially Rebound after Yesterday's 2.36% Sell Off

By James Quinn

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $73.61 to a high of $74.70. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $73.90 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Nike Inc -Cl B share prices have been bracketed by a low of $59.65 and a high of $86.04 and are now at $74.00, 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.7%.

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