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Nike Inc -Cl B (NKE) Approaches New Downside Target of $84.22

By Nick Russo

Shares of Nike Inc -Cl B (NYSE:NKE) opened today below their pivot of $86.45 and have already reached the first level of support at $85.50. Investors may be interested in a cross of the next downside pivot targets of $84.22 and $81.99.

Nike Inc -Cl B share prices have moved between a 52-week high of $105.62 and a 52-week low of $60.00 and are now trading 42% above that low price at $85.26 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.4%.

Based on a current price of $85.26, Nike Inc -Cl B is currently 16.1% above its average consensus analyst price target of $71.51. The stock should find initial resistance at its 50-day moving average (MA) of $88.10 and further resistance at its 200-day MA of $90.62.

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: pivot alerts nike inc -cl b

Ticker(s): NKE