OptionsPlay DailyPlay

The DailyPlay for March 13th is Nordstrom Inc. (JWN). JWN is part of the Consumer Discretionary Sector (XLY). XLY has been in a bullish trend since the beginning of February and just recently experienced a 2.03% move up above its $75.18 resistance which now becomes support.

Nordstrom has been in a bullish trend since November of last year and recently crossed back above its $79.62 resistance level as both the 1-month and 6-month trend indicators align. JWN has a strong technical score of 8 (out of 10) and looks to be set up for a nice move higher.

We are setting a stop loss at $79.00, as a move below this level will invalidate our analysis.

View this trade idea on $JWN