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Look for Shares of Nordstrom Inc to Potentially Rebound after Yesterday's 1.22% Sell Off

By Shiri Gupta

Nordstrom Inc (NYSE:JWN) traded in a range yesterday that spanned from a low of $64.31 to a high of $65.58. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $65.09 on volume of 915,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Nordstrom Inc on June 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.41. Since that recommendation, shares of Nordstrom Inc have risen 24.9%. We continue to monitor JWN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Nordstrom Inc have traded between a low of $37.79 and a high of $66.33 and are now at $64.70, which is 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 1.0%.

Keywords: rebounders nordstrom inc

Ticker(s): JWN