Nordstrom's stock (JWN) spiked after the retailer raised forecasts for yearly sales and profits forecasts, marking a profit of 14.02% in the last session, or 2.90 points, and settling at 23.58, with trading volumes surpassing 29.7 million shares, above 10-day averages of 10.1 million shares.
The stock is attempting to recoup some recent losses amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA, countered by positive signals from the RSI.
Therefore we expect the stock to return lower, targeting the pivotal support of 18.95,b provided the resistance of 25.24 holds on.
Expected trend for today: Bearish