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SmarTrend Watching for Potential Rebound in Shares of Nordstrom Inc After 9.75% Loss

By Amy Schwartz

Nordstrom Inc (NYSE:JWN) traded in a range yesterday that spanned from a low of $25.91 to a high of $27.80. Yesterday, the shares fell 9.8%, which took the trading range below the 3-day low of $28.09 on volume of 5.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Nordstrom Inc share prices have moved between a 52-week high of $67.75 and the current low of $25.91 and are currently at $26.09 per share. The 200-day and 50-day moving averages have moved 1.07% lower and 0.56% lower over the past week, respectively.

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 50.9%. 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