After breaking through he last support structure shown in my last analysis, JWN has also confirmed a heads and shoulders, we expect JWN to continue falling into the next fib retracement level, if it breaks that, there are a few more support level with the strongest at around $13 where the recent low was before it started making the run up past $20.
Head and shoulders suggest that it will drop to $7 but something bad will need to happen before that happens.
A new floor needs to be found first.
A good time to take profit on SOME of your puts if you're the risk adverse type.
Risky investors can choose to ride their puts to a certain bounce before taking profit.
Disclaimer:
This is not investment advice, just my opinon. Consult a investment advisor for professional advice. I do carry JWN puts
Head and shoulders suggest that it will drop to $7 but something bad will need to happen before that happens.
A new floor needs to be found first.
A good time to take profit on SOME of your puts if you're the risk adverse type.
Risky investors can choose to ride their puts to a certain bounce before taking profit.
Disclaimer:
This is not investment advice, just my opinon. Consult a investment advisor for professional advice. I do carry JWN puts
