Nordstrom, Inc. (NYSE: JWN)

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, including Nordstrom full-line stores, off-price Nordstrom Rack stores, Jeffrey' boutiques, philanthropic treasure & bond store, and Last Chance clearance stores; and its online store, nordstrom.com, as well as through catalog and online private sale subsidiary HauteLook. As of November 2, 2012, it operated 238 stores in 31 states, including 117 full-line stores, 117 Nordstrom Racks, 2 Jeffrey boutiques, 1treasure&bond store, and 1 clearance store. 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. Nordstrom, Inc. was founded in 1901 and is based in Seattle, Washington.

To review Nordstrom's stock, please take a look at the 1-year chart of JWN (Nordstrom, Inc.) below with my added notations:

After a sever sell-off in May, JWN worked it's way back up to it's $58, 52-week high and has been consolidating within a rectangle ever since. Rectangle patterns form when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. For JWN, the rectangle pattern has formed a $58 resistance (red) and a $54 support (green). A break above $58 would also be a new 52-week high.