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Look for Shares of Nordstrom Inc to Potentially Pullback after Yesterday's 1.14% Rise

By James Quinn

Nordstrom Inc (NYSE:JWN) traded in a range yesterday that spanned from a low of $49.55 to a high of $51.56. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $50.04 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Nordstrom Inc and will alert subscribers who have JWN in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Nordstrom Inc has traded in a range of $35.01 to $62.82 and is now at $50.31, 44% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has remained constant.

Keywords: rebounders nordstrom inc

Ticker(s): JWN