JWN Possible Long Trade Here?

Apr 19, 2021

JWN IS STARTING TO LOOK LIKE A BUY HERE!

• SUPPORT RIGHT BELOW AT $35.03 AND A NICE BOTTOM WICK BOUNCING OFF ON FRIDAY.
  
  
• SETTING UP NICELY TO BOUNCE AS LONG AS THE MARKETS CONTINUE HEADING UPWARDS AND CAN ALSO GET A NICE BOOST AS A RE-OPENING TRADE.
  
  
  
• IF IT FAILS TO HOLD SUPPORT OF $35.03 I THINK IT FALLS INTO A DEMAND ZONE AND MAY TRADE SIDEWAYS SOME BEFORE POPPING HIGHER AGAIN.
  
  
  
• WATCH THIS TRADE THROUGHOUT THE WEEK AND IF WE SEE BULLISH MARKETS I THINK WE CAN SEE JWN SEE A NICE PUSH HIGHER OFF OF THIS SUPPORT.
  
  
  
• UNDER $32.90 I WOULD CUT THIS AND MOVE TO A DIFFERENT TRADE UNTIL IT GETS BACK DOWN TO $28.50 -> $29.50 CONSOLIDATION AREA.
  
  

NOT FINANCIAL ADVISE ONLY SHARING MY OPINION AND IDEAS ON STOCKS!