Nike (NKE) Nears New 52-Week High

Posted: Monday, November 23, 2009 9:57 AM EDT

Nike (NYSE: NKE) opened at $64.82. So far today, the stock has hit a low of $64.82 and a high of $65.53. NKE is now trading at $65.13, up $1.21 (1.89%). Over the last 52 weeks the stock has ranged from a low of $38.24 to a high of $66.35. NKE shares are on the move this morning, as a weakening dollar propped up the stock market. Technical indicators for the stock are bullish and S&P gives NKE a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on NKE the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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