Sunday, February 26, 2017

2/26/2017: daily stock pick Nordstrom (JWN)

Today's one of my system pick is Nordstrom (JWN). Followings are some technical characters:


  • RSI move up and point up
  • MACD and PMO still golden cross up
  • BB squeezed so much that ready for expansion
  • price box [41,46] ready to break out
  • price right under 50 days MA and get retrace back from 200 days MA last Friday (2/24/2017)


In summary, most technical indicators point to the stock price will shoot up. However, the 50 days MA and 200 days MA are still resistance. Is this a concern? My personal opinion is "the 50 days and 200 days MA resistances are a take away , a contrarian signal". How to handle this trade? 

  • Buy after break out 50 days and 200 days MA, then next is the upside target: gap fill around $55. 
  • Buy between 45~46, wait for break out, stop below 42. upside target same around gap fill $55.
My personal opinion is not for investment purpose, it is only for education and illustration.

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