TradersHuddle Scanner - High Volume For NIKE

Published on Friday, 29 June 2012 11:38 Written by TradersHuddle Wire

New York, June 29th (TradersHuddle.com) - Unusual high volume detected on shares of NIKE, Inc. (NYSE:NKE) early in the trading session. The pace in volume of NIKE is already above average, with sellers in control, as the stock is 10.02% lower.

NIKE, Inc. (NYSE:NKE) designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children worldwide. The Company sell its products to retail stores, through its own stores, and through a mix of independent distributors and licensees.

NIKE has already traded 3.448 times its 3-month average volume and has calculated support and resistance at $96.70 and $109.91 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading higher by 1.92% from its previous trading close, which means that NIKE stock is underperforming the overall market.