With the crash of JWN, it has completed the formation of the right shoulder for an inverse head and shoulders.
Wait and see if prices break below the support of the right shoulder, if it rebounds, there is high probability of an inverse head and shoulders pattern formation being completed.
$JWN New Target 37.28
Whoah… what happened here? Gotta love when a stock takes a hit on good earnings. New target… a little lower than before because this market is crazy. Haha… trying to lock in profits a little tighter…
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is...
$JWN Target 39.34 for 21.46%
Or Double position at 25.44
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
Numbers with an A are places that are a good idea to add if you can.
Numbers with a D are places where you should double your position.
I start every...
Head and shoulders
Supply zone
Short 36.5
Stop 39
Target 22
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
I created some tradingview scripts to improve my trading entries:
OBV and OBV SMA...
$JWN Target 40.10 for 20.97%
Or double position at 26.20
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before...
Nordstrom (JWN) price action shows two large spikes in price that reverted to the mean quickly after breaking higher. This kind of price pattern suggests overhead resistance, with many investors eager to sell if only they could get a slightly higher price. This may be a "sell-the-news" stock, where the quarterly report is favorable, but the shares sell off anyway...
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...
Potential gain:up to +75%
Reward/Risk:3-10
Timeframe: 6 months
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to...
If this pulls back to the 20 EMA, I will grab options and play the golden cross pattern setting up.
I expect a nice boost once it hits that golden cross in 1 - 2 weeks.
JWN has debt issues and are low on cash in the meantime .Their quick ratio is 0.5 and debt/equity is 13.75 .
At time of writing cash per share is $5.73 and book is $1.73 per share .
RSI is currently in overbought levels at 77.10
Short float is > 32%
Short Ratio is > 3
Forward P/E is 25.12
I was originally going to wait until the next resistance around $40.99...
Hey my friends, NORDSTROM is in a bullish movement with low purchase volume issued. On the TIMEFRAME M1 we can see a marubuzu with a return of purchase volume it came to the top of the consolidation zone to test it. Big potential to breakout the price thereafter the zone to join another and reach the next top (View on TIMEFRAME H1). Then return (in TIMEFRAME D1)...
$JWN golden cross coming soon. It is a pattern I enjoy playing. No chart pattern or chart indicator is a guarantee.
Golden crosses on the horizon (within 1-35 days)
AA - I want in, but afraid
BAC
BOX
CARS
DBX
GE - Im in
HAS - Im in
LYFT
MLHR
MMM - Im in
NTAP
NTR - Im in
URG
WB
NNDM - Im in
ADS
BA
C
CONN...
