- 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
JWN is approaching it's 200d moving average once again, after some consistent moves higher after popping due to news that the Nordstrom family is considering taking the firm private again.
It's again trading above the rather tight band it traded in for most of 2017 before some weak news from other names in retail took others with it, including JWN.
Went long JWN...
Everybody might remind some of the first Trump attacks on twitter against Boeing or Lockheed Martin ( www.forbes.com ).
Today Donald Trump used the offical POTUS Twitter account to comment on Nordstrom.
This is a major turning point in Donald Trumps...
JWN seems breaking down nicely with huge moneyflow divergence.
Entry Target Criteria- Break of $47.87
Exit Target Criteria- $40
Stop Loss Criteria- $52.13
Option - $50 May/Jun Puts
You can check detailed analysis on JWN in the trading room/ Executive summary link here-
Time Span- 6:45"