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New York, November 20th (TradersHuddle.com) - Shares of NIKE, Inc. (NYSE:NKE) are trading very close to calculated resistance at $96.74. The stock ended the trading session at just $96.32, which is near levels that make it difficult to buy or start a position.

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's stock range is defined by its calculated support defined at $89.65 and by the resistance level at $96.74; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for NIKE. However, as the stock pulls back towards $89.65 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $96.74 then traders will get an opportunity to enter the stock as it moves to a higher range.

Technical Scans

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o Dow Jones 18,232.02 ▼53.72 (-0.29%)
o S&P 500 2,126.06 ▼4.76 (-0.22%)
o NASDAQ 5,089.36 (%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:18,232.02 Trade time:4:32PM EDT Value change:▼53.72 (-0.29%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,126.06 Trade time:4:32PM EDT Value change:▼4.76 (-0.22%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,089.36 Trade time:5:15PM EDT Value change: (%)

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