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Nike (NKE) Could Break Through $99.68 Resistance Level

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Dec 20, 2012 (Marketintelligencecenter.com via COMTEX) -- NIKE Inc. (NYSE:NKE) closed Wednesday's trading session at $97.78. In the past year, the stock has hit a 52-week low of $85.10 and 52-week high of $114.81. Nike (NKE) stock has been showing support around $96.82 and resistance in the $99.68 range. Technical indicators for the stock are Bullish and S&P gives Nike (NKE) a neutral 3 STARS (out of 5) hold rating. For a hedged play on Nike (NKE), look at the Apr '13 $100.00 covered call for a net debit in the $93.53 area. That is also the break-even stock price for this trade. This covered call has a duration of 121 days, provides 4.35% downside protection and an assigned return rate of 6.92% for an annualized return rate of 20.87% (for comparison purposes only). A lower-cost hedged play for Nike (NKE) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the Nike (NKE) Jan '14 $70.00 call and selling the Apr '13 $100.00 call for a total debit of $25.10. The trade has a lifespan of 121 days and would provide 2.74% downside protection and an assigned return rate of 19.52% for an annualized return rate of 59% (for comparison purposes only). Nike (NKE) has a current annual dividend yield of 0.86%.

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As of Sunday, 12-16-2012 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated a DOWNTREND on
05-09-2012 for NKE @ $107.98.

For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com

SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright A? 2004-2012 Comtex News Network, Inc. All rights reserved.

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