Expect we partially recover from the weakness over the last day. Prior support around 53 may serve as resistance. And then a lower low, hopefully down to 48.5.
Chart is projecting a bullish move and accumulation has begun. Short sellers will soon be unloading and pushing price higher. $62 will be the short term target and price could eventually re-test $82 within couple of months
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JWN is in a solid uptrend with the MA's lining up parallel since quite a while. Since breaking out of its last consolidation, it rallied up about 13%, before consolidation again for just short of 3 months. It broke out on a very bullish day with huge volume and has retested the prior resistance. It's now forming what seems to be a bull flag, with a nice volume...
