Description
⋅ JWN IS STARTING TO LOOK LIKE A BUY HERE!
- SUPPORT RIGHT BELOW AT $35.03 AND A NICE BOTTOM WICK BOUNCING OFF ON FRIDAY.
- SETTING UP NICELY TO BOUNCE AS LONG AS THE MARKETS CONTINUE HEADING UPWARDS AND CAN ALSO GET A NICE BOOST AS A RE-OPENING TRADE.
- IF IT FAILS TO HOLD SUPPORT OF $35.03 I THINK IT FALLS INTO A DEMAND ZONE AND MAY TRADE SIDEWAYS SOME BEFORE POPPING HIGHER AGAIN.
- WATCH THIS TRADE THROUGHOUT THE WEEK AND IF WE SEE BULLISH MARKETS I THINK WE CAN SEE JWN SEE A NICE PUSH HIGHER OFF OF THIS SUPPORT.
- UNDER $32.90 I WOULD CUT THIS AND MOVE TO A DIFFERENT TRADE UNTIL IT GETS BACK DOWN TO $28.50 -> $29.50 CONSOLIDATION AREA.
NOT FINANCIAL ADVISE ONLY SHARING MY OPINION AND IDEAS ON STOCKS!