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NIKE (NKE) Breaks Through Support at $51.29

By James Quinn

Shares of NIKE (NYSE:NKE) have bearishly opened below the pivot of $51.69 today and have reached the first support level of $51.29. Analysts will be watching for a cross of the next downside pivot targets of $50.91 and $50.13.

NIKE has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $62.30. NIKE shares should first meet resistance at the 50-day moving average (MA) of $60.55 and find additional resistance at the 200-day MA of $61.68.

NIKE share prices have moved between a 52-week high of $136.39 and the current low of $0.00 and are currently at $0.00 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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 18.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Nike

Ticker(s): NKE