JWN near bottom of channel
Updated
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.
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.
Note
Will be discussing further at tonight's Zoom meeting 730PM PST:onehourinvesting.com/pages/zoom
Note
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).Note
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
Note
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
Note
The floor in this technical is likely the new ceiling. We have to see how far it goes to see the new 'floor'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.