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medcore
12 juin 2020 20:02

JWN near bottom of channel 

Nordstrom, Inc.NYSE

Description

JWN is currently at the bottom of the channel it has been in this quarter. If the greater market continues its trend, JWN is expected to bounce off the bottom of the channel.

If it breaks below it, we may expect to see a sell off.
With a recent red day yesterday, it's hard to know where it is going for the next two weeks.

Commentaire

Will be discussing further at tonight's Zoom meeting 730PM PST:
onehourinvesting.com/pages/zoom

Commentaire

Bounced off bottom support and still remains in the channel. It does look like a head and shoulder (Higher chance of it breaking channel, but not all H&S guarantees drop).

Commentaire

Currently hugging the bottom channel. A head and shoulders is awaiting confirmation. Buy side support has to keep it above the channel AND neckline.
We will see what happens in a few days

Commentaire

JWN broke below the neckline and bottom of channel forming a red 7% waterfall.
Congrats on everyone who had put positions.

May be a good time to lock in some profits if you haven't.

Be safe out there.

Join us at our weekly Zoom investing chat to discuss more equities.
onehourinvesting.com/pages/zoom

Commentaire

The floor in this technical is likely the new ceiling.
We have to see how far it goes to see the new 'floor'.
Commentaires
jpvaladez
Can it get back into the channel?
medcore
@jp31e19b6665774813
The floor in this technical is likely the new ceiling.
We have to see how far it goes to see the new 'floor'.
medcore
JWN broke below the neckline and bottom of channel forming a red 7% waterfall.
Congrats on everyone who had put positions.

May be a good time to lock in some profits if you haven't.

Be safe out there.

Join us at our weekly Zoom investing chat to discuss more equities.
onehourinvesting.com/pages/zoom
jpvaladez
@medcore, can it re-enter the channel if it comes back tomorrow?
artisticCamel36996
now it looks like a double bottom, way to go up a bit
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