The bearish DailyPlay we chose for Thursday January 28th is Nordstrom Inc (JWN). JWN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 7.77% move lower and it’s 1m and 6m trend turned bearish on 1/04 while breaking below its $77 minor support area.
Nordstrom Inc’s 1m and 6m trends turned bearish on 10/07 and recently formed a double top formation at its $49 resistance level. With a technical score of 2 (out of 10), JWN looks positioned to continue this strong bearish trend lower.