NIKE Broke Resistance

New York, November 27th (TradersHuddle.com) - Shares of NIKE, Inc. (NYSE:NKE) closed the session at $97.66 just above calculated resistance at $96.52. The stock moved to what appears to be a higher range, spurring attention from momentum buyers.

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.

The stock was trading in a well defined range with support at $89.65 and resistance at $96.52. Given that this range was broken, traders will be closely monitoring NIKE's price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that NIKE is still near the broken resistance level, traders will be focusing on the $96.52 level to see if the stock holds the breakout without rolling over.



Related Articles

    Related Partner Headlines

      What’s the next under-$10 stock that could be ready to skyrocket? Find out now when you join David Peltier at Stocks Under $10.

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 16,399.67 ▲19.26 (0.12%)
      o S&P 500 1,904.01 ▲17.25 (0.91%)
      o NASDAQ 4,316.07 (%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:16,399.67 Trade time:4:31PM EDT Value change:▲19.26 (0.12%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:1,904.01 Trade time:4:31PM EDT Value change:▲17.25 (0.91%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:4,316.07 Trade time:5:15PM EDT Value change: (%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.