Norsdstrom ABC expanded flat correction in the making

- bullish bar piercing through strong support level and converging 25 and 50 MAs that are converging and trending above 200MA
- price retracing correctively to 50 strong support level on 1H
- the M chart shows classical ABC expanded flat correction in the making

I am already holding some JWN stock and will now buy call options with 52.5 strike
while the whole C wave can take months to play out, technical analysis above suggests that the price should start trending up soon making it high confidence trade worth 5% of risk

- allocate 3% to buy call 52.5 options with expiration on April 20
- allocate 2% to add stocks and move SL of the existing trade (which is already in the money) to 47.4
- target 100% of the A (65) with the stock trade by August

- with stocks it is good to enter now
- with options I shall wait price retracing to 50 in a coming trading session, watching 1H
Comment: somewhat similar picture is being demonstrated by industry peers such as M, DDS, KSS raising odds in our favour
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