NIKE - Above Average Volume Detected

Published on Monday, 02 July 2012 11:38 Written by TradersHuddle Wire

nke New York, July 2nd (TradersHuddle.com) - Unusual high volume detected on shares of NIKE, Inc. (NYSE:NKE) early in the trading session. The pace in volume of NIKE points to a break above average, with buyers stepping in, as the stock is 0.38% higher.

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 0.909 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 lower by -0.34% from its previous trading close, which means that NIKE stock is outperforming the overall market.

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