JWN closes within prior day's range


Technical Analysis Report for JWN - May 17, 2018 [< 1 min read]
Highlights
JWN unable to break through key resistance level
JWN closes within previous day's range
JWN ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

JWN ended Thursday at 50.91 edging lower $0.14 (-0.27%) on high volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for JWN
Volatility

Thursday's trading range was $1.36 (2.69%), that's slightly below last trading month's daily average range of $1.37. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 50.97, the stock closed below it after spiking as high as 51.87 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Trading close to March's high at 53.23 we might see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

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Latest Report:

JWN finds buyers at key support level

May 23, 2018
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