NKE runs into sellers again around 71.60
Nike Inc. (NKE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
NKE ended Thursday at 70.94 losing $0.40 (-0.56%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (NKE as at May 17, 2018):
Thursday's trading range was $0.78 (1.09%), that's far below last trading month's daily average range of $1.15. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
After having been unable to move above 71.51 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 71.60.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.