Nike Continues To Struggle Over $55

Nike Inc NKE shares are trading lower by $0.06 at $55.07 in Thursday's session. The issue in trading a narrow $0.83 range compared to Wednesday's $2.25 range following its Q4 report.

After a higher open, the issue cleared its June 19 high ($55.36), but fell short of its June 13 high ($55.64) as the rally stalled at $55.43. The ensuing decline has found intra-day support at $54.60 and has rebounded back into the $55 handle.