Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>JWN stock price may rebound on Monday from the support zone.</a> </li> 
 <li> <span>2</span> <a>Nordstrom’s stock price (NYSE: JWN) fell nearly 7.73% on Friday amid positive quarterly results.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Bears are taking advantage of the decline and are aggressively making short positions.&nbsp;</a> </li> 
</ul> 
<p>Nordstrom’s (JWN stock) price noted a sharp fall from the $23.2 level after bottoming out from a round level of $15 to gain a 50% value. the stock gained momentum after the last quarterly earnings and continued to surge higher to hit a high of $23.34 However, the short-term gains triggered a sell-off and the stock fell sharply sliding below the 50-day and 200-day EMA. The round mark of $20 shows aggressive short-buildup activity.&nbsp;</p> 
<p>The JWN stock on Friday, released its Q2 earnings result, which outperformed the analyst’s estimates. The company reported a revenue of $3.772 Billion beating the analyst’s estimates by 96.27 Million. the earnings were reported to be 0.84 Billion outperforming the analyst’s estimates by 86.95%.</p> 
<p>However, the stock continued its free fall and declined 7.7% more Friday despite its good quarterly results. The chart shows that JWN stock slipped below the key moving averages, declining towards the recent support zone which might be the last defending zone for the buyers to keep the long-term trend up. Also, the $15 is the round level and the previous breakout zone which might halt the free fall.&nbsp;</p> 
<p>Nordstrom Stock is a fashion specialty retailer that offers stylish clothing, shoes, and accessories for men, women, and children. Nordstrom strives to provide the best service to its customers every day.</p> 
<p>JWN stock traded at $15.52 at press time with an intraday decline of 7.73%, showing bearishness in the overnight session. Furthermore, the selling volume increased to 20.47 Million, and the market cap is $2.506 Billion.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/jeWwJvcFqJ5W15YqjLp351OFdRa2naHDVuiafZs2sCVV3nXZXNuMK14kHK823uIlAQ-UmvQq9LpOTk5W3BzeNTlK64Y1jAdCkp0aESpKjS5_CNh8EyIKSX1dQuwN2OBNjV9vAzu8WSjYQT2iim9Cdqk" alt="JWN Stock Price Prediction: Will Nordstrom Share Crash More?"> 
  <figcaption class="wp-element-caption">
    &nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>JWN stock option-chain analysis states that the current implied volatility in the market is 46.7% with a decrement of 20.93% in the last trading session. The at-the-money strike price has 4589 open contracts on the put side and 29 open contracts on the call side indicating the dominance of buyers at the current level. The PUT/CALL ratio is 1.29 indicating that buyers dominate the overall option chain data.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-jwn-stock-price-might-get-support-from-the-15-round-level-strong"><strong>JWN Stock Price Might Get Support From The $15 Round Level</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/IIGHYKhza3H0UdSZmEN-yPugqBMbfGiadfCFbxVXI_8IZlGJRXZuCDbdjym9j4ophfVD7-RQfnm8Gpb5P6HG_36N0pE6Md5l84gzWhjZt1vxz5qmyVQxZQKqomZn8NcNCVhuRXS5SrIghwtPr8sjPnQ" alt="JWN Stock Price Prediction: Will Nordstrom Share Crash More?"> 
  <figcaption class="wp-element-caption">
    Source: Nordstrom 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The JWN <a href="https://www.thecoinrepublic.com/2023/08/10/meta-stock-price-prediction-is-meta-gonna-fall-beneath-300/" rel="noopener noreferrer nofollow">stock</a> price currently trades at $15.52 and has been declining for the last 30 days. The stock is nearing the previous demand zone and $15 level which might act as a support and halt the declining price. However, it requires more buying volume to accumulate at the lower levels and surge the price higher.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-the-jwn-price-could-not-sustain-above-the-200-ema-strong"><strong>The JWN Price Could Not Sustain Above The 200 EMA</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/XhPP_Po39hgYKrd5TFpoaL9BaavXlR_qbgd5NnzcNLgbm2y8I5HxMkwndzTrMLyJxy5t6DQWq8jwZxYJJj3iQxsmeuLcjll4CHGXYbUq2R6tibvO-zoRiLib96xvEdaTZTuvhBiu-YMzIQWtV96aYAA" alt="JWN Stock Price Prediction: Will Nordstrom Share Crash More?"> 
  <figcaption class="wp-element-caption">
    Source: Nordstrom 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily JWN <a href="https://www.thecoinrepublic.com/2023/08/10/meta-stock-price-prediction-is-meta-gonna-fall-beneath-300/" rel="noopener noreferrer nofollow">stock </a>price chart shows that the price has declined below the 50 and 200 EMA indicating weakness over the daily charts.&nbsp;</p> 
<p>The overall Technical Opinion rating including RSI and MACD is signaling an 8% sell with the average short-term outlook on maintaining the current direction.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>Nordstrom, Inc. (JWN stock) reported a strong Q2 earnings result, beating the analyst’s estimates. However, the stock price plunged 7.7% on Friday and continued to slide below the key moving averages. The stock is approaching the $15 level, which is a round number and a previous breakout zone. This might act as a support and stop the price decline. However, the stock needs more buying volume to reverse the downtrend and surge higher. The chart shows that JWN stock is in a bearish phase and might face more selling pressure.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $14.48 and $11.73.</li> 
 <li><strong>Resistance levels:</strong> $18.60 and $20.17.</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

JWN Stock Price Prediction: Will Nordstrom Share Crash More?

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Thecoinrepublic.com

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