Keep an eye on Nordstrom (JWN). After getting crushed from $22.50 to $16.62, it appears the JWN stock may be bottoming out. We’re also watching as RSI, MACD, and Williams’ %R start to pivot higher, as well. Near-term, we’d like to see the retail stock retest prior resistance at $22.50. Also, while firms, like JP Morgan believe JWN could head lower, it looks like the worst has been priced in already, creating a “blood in the streets” opportunity.
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