Sunday, December 17, 2017

Not All Retail Stocks Are Created Equal

Last week, leading high end fashion retailer Nordstrom Inc (NYSE:JWN) was the latest department store stock to drop sharply after reporting earnings. On May 10th Nordstrom Inc stock was trading around $50.00 a share, today the stock is trading at $40.74 a share. Traders and investors can easily see the weakness in JWN and many of the other department store stocks like Macy’s Inc (NYSE:M), J C Penney Co (NYSE:JCP), and Kohl’s Corp (NYSE:KSS). Simply put, the leading retail stocks have been very weak on the charts. If you are interested in trading stocks then check out this great website at forex trading in south africa.

Nordstron Inc is approaching a solid support level around the $37.75 level. This level happens to be the 200-month moving average. Believe it or not, moving averages are very important on all time frames. Traders and investors should look this $37.75 level to be defended by the institutional crowd. This important area on JWN stock was also defended in June 2016 and should be support again when retested.

Nicholas Santiago

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