Bearish Moving Average Cross by Nordstrom (JWN)
Nordstrom (NYSE:JWN) crossed under its 10-day moving average of $52.06 on a volume of 397K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Nordstrom share prices have been bracketed by a low of $35.01 and a high of $80.23 and are now at $51.55, 47% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Nordstrom on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.42. Since that recommendation, shares of Nordstrom have risen 26.6%. We continue to monitor JWN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Nordstrom