JWN closes within prior day's range
Nordstrom Inc. (JWN) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (JWN as at May 17, 2018):
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.
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.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Trading close to March's high at 53.23 we might see further upside momentum if potential buy stops at the level get activated.