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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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Nordstrom (JWN) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversold
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It was a first positive week for the Nordstrom (JWN). During the week, the JWN gained 0.23 points, or 1.35%, and closed at 17.29 on Friday, March 15, 2024. Weekly volume was -23% below average.

Long-term trend: [See JWN long-term trend chart]
A long-term downtrend had started on March 15, 2021 at 46.45 and reached 12.88 on November 13, 2023. JWN lost 33.57 points, or 72.27%, in 139 weeks. The price is now at the 13.14% retracement level.

Medium-term trend: [See JWN medium-term trend chart]
A medium-term uptrend had started on November 13, 2023 at 12.88 and reached 21.91 on February 29, 2024. JWN gained -9.03 points, or -70.11%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (21.88) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. JWN may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See JWN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See JWN short-term trend chart]
A short-term downtrend had started on February 29, 2024 at 21.91 and reached 16.86 on March 8, 2024. JWN lost 5.05 points, or 23.05%, in 8 days. The price is now at the 8.51% retracement level.

Daily Technical Indicators: [See JWN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.31
Williams' Percentage Range (W%R) 86.90
Oversold
Lane's Stochastic (%D-Slow) 16.48
Oversold
Greed/Fear Indicator (GFI) 19.28
Oversold
Moving Average Converg./Diverg. (MACD) -0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.46
Williams' Percentage Range (W%R) 48.60
Lane's Stochastic (%D-Slow) 64.59
Greed/Fear Indicator (GFI) 54.73
Moving Average Converg./Diverg. (MACD) 0.47
Trading Signals
Description Value Chart
Upper Bollinger Band 21.97
Weekly Stochastic Crossing 19.81
Parabolic System 19.36
20 Day Moving Average 19.36
50 Day Moving Average 18.94
Price 17.29
Daily Stochastic Crossing 17.22
Lower Bollinger Band 15.49
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Department Stores 44
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 18.22
High Date 03/13/2024
Low 17.27
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 21.91
High Date 02/29/2024
Low 16.86
Low Date 03/08/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 22.66
Support 21.88
Low 12.88
Low Date 11/13/2023
High 21.91
High Date 02/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 46.45
High Date 03/15/2021
Low 12.88
Low Date 11/13/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.16
High Date 03/23/2015
Low 11.72
Low Date 09/24/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.