NIKE Falls 1.35% on Heavy Volume: Watch For Potential Rebound
NIKE (NYSE:NKE) traded in a range yesterday that spanned from a low of $55.57 to a high of $57.00. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $56.25 on volume of 4.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 11.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, NIKE share prices have been bracketed by a low of $47.25 and a high of $136.39 and are now at $55.67, 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
Keywords: rebounders Nike