Nordstrom Inc Chart Analysis

Mark Sebastian

Hey Traders,

JWN has been in a downtrend since March 2021 when it was trading $46.

It may be making a triple bottom at the moment:

A close up of the most recent area of the chart shows Wednesday’s candle looking bullish:

It is possible for JWN to bounce here after the huge downtrend since February 3rd which was a hanging man candle.

I could see it trade back to its 50 day moving average at $19.34.

This is short-term. As far as the long term, I would not be a holder of JWN.

Sorry, I just can’t get over the Shoe Salon.

Thanks for Reading …

Licia Leslie

Pit Report

Mark Sebastian

Mark Sebastian is a former member of both the Chicago Board Options Exchange (CBOE) and the American Stock Exchange (AMEX), where he spent years mastering the art of options trading in the most competitive environment imaginable. As Chief Investment Officer at the hedge fund Karman Line Capital, Mark manages sophisticated options strategies for institutional clients. He is the author of two highly regarded books on options trading: ‘The Option Traders Hedge Fund’ and ‘Trading Options for Edge.’ Mark is a frequent guest on major financial networks including CNBC, Fox Business News, Bloomberg, and First Business News, where he provides expert commentary on market volatility and options strategies.

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