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Uptrend ExhaustionArchive
- 4/26/2024 -
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Nordstrom (JWN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Nordstrom (JWN). During the week, the JWN gained 0.21 points, or 1.11%, and closed at 19.13 on Friday, April 26, 2024. Weekly volume was -46% 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 21.91 on February 29, 2024. JWN gained -9.03 points, or -70.11%, in 15 weeks. The price is now at the 30.79% retracement level.
 Medium-term trend: [See JWN medium-term trend chart]
A medium-term downtrend had started on February 29, 2024 at 21.91 and reached 16.79 on March 18, 2024. JWN lost 5.12 points, or 23.37%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (17.36) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance 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 April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 April 1, 2024 at 20.37 and reached 17.20 on April 16, 2024. JWN lost 3.17 points, or 15.56%, in 15 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See JWN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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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