Retail has been a tough group to trade and invest in for quite some time. There have always been “haves and have nots”, but the “have nots” group has grown larger. If it weren’t for Nordstrom, Restoration Hardware, Target, Walmart and LULUlemon, the retail sector would be a complete disaster.
So let’s talk about Nordstrom. This high-end retailer has started to defy the odds with good leadership, strong brands, outstanding customer service and a winning online sales strategy – not to mention a fabulous new store in Manhattan.
The stock suffered through a miserable summer and bottomed out in August at levels not seen since 2010. Since then, the chart has significantly improved. The name enjoyed a recent breakout over resistance on some good turnover. Money flow has been really good, the cloud looks strong and the RSI has a steep, positive slope.
We banked a nice winner on Monday and rolled our 40 strike calls out to April. We are bullish on this name through the holidays and beyond.
Nordstrom Chart Analysis
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Nordstrom is a fashion retailer that provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company was founded in 1901 and is headquartered in Seattle, Washington.