After Yesterday's Rally of 1.21% Shares Could Potentially Pullback
Nordstrom (NYSE:JWN) traded in a range yesterday that spanned from a low of $38.00 to a high of $38.78. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $38.33 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Nordstrom share prices have been bracketed by a low of $36.19 and a high of $80.23 and are now at $38.61, 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.9%.
SmarTrend recommended that its subscribers protect gains by selling shares of Nordstrom on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $51.04. Since that call, shares of Nordstrom have fallen 25.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Nordstrom