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Watch for Continued Gains in Shares of Nike Inc -Cl B (NKE)

By James Quinn

Shares of Nike Inc -Cl B (NYSE:NKE) traded today at $95.89, breaking its 52-week high. So far today approximately 191,000 shares have been exchanged, as compared to an average 30-day volume of 6.4 million shares.

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

Nike Inc -Cl B (NYSE:NKE) defies analysts with a current price ($95.77) 25.3% above its average consensus price target of $71.51. The stock should find initial support at its 50-day moving average (MA) of $87.34 and further support at its 200-day MA of $84.73.

Over the past year, Nike Inc -Cl B has traded in a range of $66.53 to $95.89 and is now at $95.77, 44% above that low. The 200-day and 50-day moving averages have moved 0.37% higher and 0.99% higher over the past week, respectively.

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.

Keywords: 52 week high/lows nike inc -cl b

Ticker(s): NKE