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Nike Inc -Cl B Set to Possibly Pullback After Yesterday's Rally of 3.08%

By Amy Schwartz

Nike Inc -Cl B (NYSE:NKE) traded in a range yesterday that spanned from a low of $88.42 to a high of $90.23. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $87.77 on volume of 3.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 48% above that low price at $88.96 per share. The 200-day and 50-day moving averages have moved 0.04% higher and 1.18% lower 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: rebounders nike inc -cl b

Ticker(s): NKE