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Archive
- 11/8/2024 -
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Nordstrom (JWN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Nordstrom (JWN). During the week, the JWN gave back -0.04 points, or -0.18%, and closed at 22.52 on Friday, November 8, 2024. Weekly volume was -57% below average.
 Long-term trend: [See JWN long-term trend chart]
A long-term uptrend had started on November 13, 2023 at 12.88 and reached 24.93 on October 18, 2024. JWN gained -12.05 points, or -93.56%, in 48 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 22.16 and resistance is at 25.84. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See JWN medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 19.45 and reached 24.93 on October 18, 2024. JWN gained -5.48 points, or -28.17%, in 10 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (22.23) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See JWN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 9, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See JWN short-term trend chart]
A short-term downtrend had started on October 18, 2024 at 24.93 and reached 22.28 on November 6, 2024. JWN lost 2.65 points, or 10.63%, in 19 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 22.25 and resistance is at 23.06. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
Daily Technical Indicators: [See JWN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 23, 2024. This is an indication that the short-term trend is down.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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