• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Nordstrom Inc (NYSE:JWN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nordstrom Inc (NYSE:JWN) based on the price action in the company's shares. Yesterday's price range of $50.82 and $51.59 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Nordstrom Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nordstrom Inc (NYSE:JWN) is currently priced 0.5% above its average consensus analyst price target of $50.93. Nordstrom Inc shares have support at the 50-day moving average (MA) of $49.37 and additional support at the 200-day MA of $47.20.

Nordstrom, Inc. is a fashion retailer of apparel, shoes, and accessories for men, women, and children. The Company operates through multiple retail channels, discount stores, boutiques, catalogs, and on the Internet. Nordstrom also offers, through a subsidiary, private label card credit and debit cards.

Nordstrom Inc share prices have moved between a 52-week high of $54.00 and a 52-week low of $37.79 and closed yesterday at 35% above that low price at $51.18 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Nordstrom Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nordstrom Inc in search of a potential trend change.

Keywords: bearish am inside day candle nordstrom inc

Ticker(s): JWN