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Bearish Moving Average Cross by Nordstrom Inc (JWN)

By Nick Russo

Nordstrom Inc (NYSE:JWN) crossed under its 10-day moving average of $31.70 on a volume of 761K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Nordstrom Inc share prices have been bracketed by a low of $30.69 and a high of $67.75 and are now at $31.18, 2% above that low price. The 200-day and 50-day moving averages have moved 0.69% lower and 1.11% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Nordstrom Inc on November 15th, 2018 by issuing a Downtrend alert when the shares were trading at $59.25. Since that call, shares of Nordstrom Inc have fallen 46.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses nordstrom inc

Ticker(s): JWN