Nordstrom Stock Could Move Back Toward Lows

JWN has run into a historically bearish trendline on the charts

Deputy Editor
Jan 19, 2023 at 12:03 PM
facebook X logo linkedin


The shares of Nordstrom Inc (NYSE:JWN) recently rallied off their Dec. 28, two-year low of $15.52, though the equity was last seen down 2.6% at $17.12 at last check. This pullback looks like it may get extended, as JWN just ran into a trendline with historically bearish implications.

According to data from Schaeffer's Senior Quantitative Analyst Rocky White, Nordstrom stock is within one standard deviation of its 100-day moving average. The retail name has seen seven similar signals over the past three years, after which the stock was lower one month later 43% of the time, averaging a 10.4% loss. 

JWN Jan19

Now looks like the perfect time to weigh in on the security's next move with options, too. The stock is seeing attractively priced premiums at the moment, per JWN's Schaeffer's Volatility Index (SVI) of 48%, which ranks in just the 1st percentile of its annual range.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI