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Nordstrom Inc Falls 2.29% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Nordstrom Inc (NYSE:JWN) traded in a range yesterday that spanned from a low of $43.38 to a high of $44.21. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $43.82 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Nordstrom Inc has traded in a range of $43.04 to $67.75 and is now at $43.44, 1% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Nordstrom Inc on November 15th, 2018 by issuing a Downtrend alert when the shares were trading at $59.25. Since that call, shares of Nordstrom Inc have fallen 25.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders nordstrom inc

Ticker(s): JWN