Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes,
cosmetics, and accessories for women, men, and children in the United
States. It operates in two segments, Retail and Credit. The Retail
segment offers a selection of brand name and private label merchandise.
This segment sells its products through various channels; online private
sale subsidiary, HauteLook, Inc, as well as online store,
Nordstrom.com; and catalog sale. As of July 30, 2014, this segment
operated 271 stores, including 117 full-line stores, 151 Nordstrom
Racks, 2 Jeffrey boutiques, and 1 clearance store in 36 states. The
Credit segment operates Nordstrom fsb, a federal savings bank, which
provides a private label credit card, two Nordstrom VISA credit cards,
and a debit card. Its credit and debit cards feature a shopping-based
loyalty program.
Take a look at the 1-year chart of Nordstrom (NYSE: JWN) with my added notations:
JWN has been trading sideways for the last 3 months. Over that period
of time the stock has formed a resistance level near $70 (red). In
addition, JWN has also created a level of support at around $67 (green).
At some point the stock will have to break one of the two levels that
the sideways consolidation has created.
The Tale of the Tape: JWN has a support area near
$67) and a resistance area around $70. The possible long positions on
the stock would be either on a pullback to $67, or on a breakout above
$70. The ideal short opportunity would be on a break below $67.
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