Nordstrom (JWN) – Bearish DailyPlay for Wednesday, Jan 9th, 2019
The bearish DailyPlay we chose for Wednesday, Jan 9th is Nordstrom (JWN). JWN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.17% move lower and its 1m and 6m trend have turned neutral on 1/8 but has reached overbought territory.
Nordstrom’s 1m and 6m trends turned bearish on 11/6 and recently bounced lower off its $50 resistance level. With a technical score of 5 (out of 10), JWN is a neutral stock that is starting to turn lower.
As a stop loss, if JWN was to trade above $50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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