Bearish DailyPlay for Thursday January 28th, 2015 – Nordstrom Inc (JWN)
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.