EARN25

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.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!