JWN is within one standard deviation of its 100-day moving average
The shares of Nordstrom Inc (NYSE:JWN) recently rallied off their Dec. 28, two-year low of $15.52, though the equity was last seen down 2.6% at $17.12 at last check. This pullback looks like it may get extended, as JWN just ran into a trendline with historically bearish implications.
According to data from Schaeffer's Senior Quantitative Analyst Rocky White, Nordstrom stock is within one standard deviation of its 100-day moving average. The retail name has seen seven similar signals over the past three years, after which the stock was lower one month later 43% of the time, averaging a 10.4% loss.
Now looks like the perfect time to weigh in on the security's next move with options, too. The stock is seeing attractively priced premiums at the moment, per JWN's Schaeffer's Volatility Index (SVI) of 48%, which ranks in just the 1st percentile of its annual range.