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SmarTrend Watching for Potential Pullback in Shares of Nike Inc -Cl B After 2.51% Gain

By James Quinn

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $69.62 to a high of $71.29. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $69.52 on volume of 5.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Nike Inc -Cl B and will alert subscribers who have NKE in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Nike Inc -Cl B have traded between a low of $49.01 and a high of $71.29 and are now at $71.15, which is 45% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders nike inc -cl b

Ticker(s): NKE