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Nike Inc -Cl B Set to Possibly Rebound After Yesterday's Selloff of 2.36%

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.

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.

In the past 52 weeks, shares of Nike Inc -Cl B have traded between a low of $59.65 and a high of $86.04 and are now at $74.00, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has risen 0.2%.

Keywords: rebounders nike inc -cl b

Ticker(s): NKE