Retailer Nordstrom (JWN) was trading lower after it slashed its full-year profit forecast following a weaker-than-expected holiday sales update. Let's check out the charts and indicators to see when is a good time to go shopping.
In this daily bar chart of JWN, below, I can see a clear pattern of lower highs and lower lows (the simple definition of a downtrend) from April. Weakness on the chart is not new. Prices recently failed at the underside of the declining 50-day moving average line. The slope of the 200-day moving average line is also negative.
The On-Balance-Volume (OBV) line shows me that sellers of JWN have been more aggressive than buyers since August. The trend-following Moving Average Convergence Divergence (MACD) oscillator is below the zero line and narrowing.