Nordstrom Inc Stock Forecast
Green day on Wednesday for Nordstrom Inc
(Updated on Apr 17, 2024)
The Nordstrom Inc stock price gained 1.36% on the last trading day (Wednesday, 17th Apr 2024), rising from $17.71 to $17.95. During the last trading day the stock fluctuated 2.21% from a day low at $17.63 to a day high of $18.02. The price has been going up and down for this period, and there has been a -5.63% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $39.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nordstrom Inc stock with a 90% probability to be traded between $16.68 and $21.40 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JWN Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nordstrom Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $18.72 and $18.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -11.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nordstrom Inc stock
Nordstrom Inc finds support from accumulated volume at $17.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.390 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JWN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Nordstrom Inc to open at $17.87, and during the day (based on 14 day Average True Range), to move between $17.10 and $18.80, which gives a possible trading interval of +/-$0.85 (+/-4.71%) up or down from last closing price. If Nordstrom Inc takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.54 (2.28%) than the resistance at $18.66 (3.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nordstrom Inc stock A Buy?
Nordstrom Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.315 Sell Candidate Unchanged
Predicted Opening Price for Nordstrom Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $17.87 ( 0.464%) | $17.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JWN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.26 | 1.71 % | |
| R2 | 18.11 | 0.88 % | ||
| R1 | 18.02 | 0.366 % | ||
| Current price: | 17.95 | |||
| Support | S1 | 17.72 | -1.29 % | |
| S2 | 17.63 | -1.81 % | ||
| S3 | 17.48 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.90 | 16.43 % | |
| R2 | 19.38 | 7.97 % | ||
| R1 | 18.66 | 3.96 % | ||
| Current price | 17.95 | |||
| Support | S1 | 17.54 | -2.28% | |
| S2 | 17.06 | -4.96% | ||
| S3 | 16.91 | -5.79% |
JWN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 12, 2024 | Mar 27, 2024 | $0.190 | 0.95% |
| 2 | Feb 28, 2024 | Mar 11, 2024 | Mar 27, 2024 | $0.190 | 0.95% |
| 3 | Nov 15, 2023 | Nov 28, 2023 | Dec 13, 2023 | $0.190 | 1.10% |
| 4 | Nov 15, 2023 | Nov 27, 2023 | Dec 13, 2023 | $0.190 | 1.10% |
| 5 | Aug 16, 2023 | Aug 28, 2023 | Sep 13, 2023 | $0.190 | 1.31% |
FAQ
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