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Watch for Nordstrom Inc to Potentially Pullback After Gaining 1.65% Yesterday

By Amy Schwartz

Nordstrom Inc (NYSE:JWN) traded in a range yesterday that spanned from a low of $33.09 to a high of $34.00. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $33.42 on volume of 572,000 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, shares of Nordstrom Inc have traded between a low of $25.01 and a high of $67.75 and are now at $33.65, which is 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

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.

Keywords: rebounders nordstrom inc

Ticker(s): JWN