Market Overview

Nike Approaches $50 For First Time Since August 2015

Nike Approaches $50 For First Time Since August 2015

Nike Inc (NYSE: NKE) shares are trading lower by $1.60 (3 percent) at $50.42 in Monday's session. The catalyst for the decline is a downgrade at Bank Of America from Neutral to Underperform.

Following a lower open, it could not even reach the bottom end of Friday's range ($51.79), only reaching $51.15 before resuming its decline.

So far, it has come near the psychological $50 support level as the current low stands at $50.15. Besides its August 24, 2015, panic-induced Flash Crash low of $47.25, this marks the first time under $50 for the issue since May 6, 2015, when it bottomed at $49.84.

Nike is not scheduled to report Q2 earnings until December 20 as its last report was on September 27.

Posted-In: Technicals Intraday Update Movers Trading Ideas


Related Articles (NKE)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Technical Alert: S&P 500 Index Futures Unchanged In See-Saw Session

Movie Audiences Still Want Madea