JWN trade ideas
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JWN approaching 200d MAJWN is approaching it's 200d moving average once again, after some consistent moves higher after popping due to news that the Nordstrom family is considering taking the firm private again.
It's again trading above the rather tight band it traded in for most of 2017 before some weak news from other names in retail took others with it, including JWN.
Went long JWN when it was down around 40 and am sticking with it, on the mildly bullish technicals, the strong vote of confidence from the Nordstroms that they'd want to take the firm public to shield it from all the AMZN -driven doomsday activity elsewhere in the retail sector, and that generally JWN is in my estimation best-of-breed amongst department stores with an already strong digital channel compared to their competitors.
I'm not looking for a price target to sell at necessarily due to privatization talks. Content to sit on this until that all works out and then reassess when there's a resolution there one way or another. I'd say buying in now would only be prudent if you figure going private is more likely than not.
Despite being hated on by POTUS, $JWN is resilient Another retail clothing stock looking like a potentially good setup.
Trump tweets losing powerEverybody might remind some of the first Trump attacks on twitter against Boeing or Lockheed Martin ( www.forbes.com ).
Today Donald Trump used the offical POTUS Twitter account to comment on Nordstrom.
This is a major turning point in Donald Trumps Presidency: First time direct after his "attack" a stock is rising fast and sending a strong signal:
Donald Trumps tweets are losing power. Or in other words - Donald Trump is losing power.
What does this mean? If ever a company benefits from opposing Donald Trump than any Senator and any Lawmaker will learn from this. And any US-Corp. as well. Or in other Words: Donald Trump is isolating himself more and more. Follow Nordstrom as an indicator that anyone is earning "money" from opposing Donald Trump. Same time companies taking some risks if ever they follow Donald Trump. So let´s see how Nordstrom runs and same time how Donald Trump approval rates are. Lets try to find out or to predict the tipping point when Trump is going to lose support in the House or Senat to became a "lame duck" as early as no other President before in history.
JWN- Breakdown short from current label to $40 areaJWN seems breaking down nicely with huge moneyflow divergence.
Trade Criteria
Entry Target Criteria- Break of $47.87
Exit Target Criteria- $40
Stop Loss Criteria- $52.13
Option - $50 May/Jun Puts
You can check detailed analysis on JWN in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 6:45"
Trade Status: Pending
JWN Short - weakness into earningsExpect we partially recover from the weakness over the last day. Prior support around 53 may serve as resistance. And then a lower low, hopefully down to 48.5.
$JWN descending broadening wedge$JWN descending broadening wedge on daily.
But can it break the 200?
#JWN LOOKING ATTRACTIVE AROUND 40SChart is projecting a bullish move and accumulation has begun. Short sellers will soon be unloading and pushing price higher. $62 will be the short term target and price could eventually re-test $82 within couple of months
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weak retail below cloudbelow 50money flow weakstoc crossed volume confirm-group weak-stop loss 50 ma-cci and percent r bottom-relative strength weak
JWN watch out for break upJWN maybe come back for breakout to close the gap. Wait for signal to call options. Target 61.
JWN Breakout of consolidationJWN is in a solid uptrend with the MA's lining up parallel since quite a while. Since breaking out of its last consolidation, it rallied up about 13%, before consolidation again for just short of 3 months. It broke out on a very bullish day with huge volume and has retested the prior resistance. It's now forming what seems to be a bull flag, with a nice volume contraction. Both the measured move from the flag and from the consolidation channel would point to a move towards 86 or a little less. That would yield a profit of about 5 %, a stop just under the flag or slightly below the resistance turned support would give a 2:1 risk reward trade.
Happy trading!
