Retailer Nordstrom (JWN) is trading lower Wednesday on the heels of a disappointing earnings report for the second quarter. The Seattle-based department store company cut its full-year sales and earnings forecasts after experiencing lower consumer spending "beginning in late June."
Let's check out the fit of the charts and indicators.
In this daily bar chart of JWN, below, we look at the shares over the past 12 months. The shares have largely traded sideways with buying interest coming in around the $20-$18 area. JWN is trading around/breaking the May and July lows even the late February lows. The stock is trading below the declining 50-day and 200-day moving average lines.
The daily On-Balance-Volume (OBV) line shows a rise from March to the middle of August and is now pulling back. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profit sell signal and maybe soon an outright sell signal.