SmarTrend Watching for Potential Rebound in Shares of Nike Inc -Cl B After 2.18% Loss

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $91.31 to a high of $92.50. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $93.06 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Nike Inc -Cl B share prices have moved between a 52-week high of $96.87 and a 52-week low of $66.53 and are now trading 39% above that low price at $92.47 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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.