JWN Price Prediction Next Week
Analysis and Insights
News Impact:
- Retail Sales Performance: February retail sales increased by 0.2%, below the expected 0.6%, signaling weaker consumer spending.
- Market Reaction: The SPDR S&P Retail ETF (XRT) is down, and Nordstrom (JWN) has dropped 7.8% amid broader retail sector declines.
- Broader Market Impact: Concerns about consumer sentiment and inflation are growing, with other major retailers like Macy's and Target also experiencing declines.
Technical Indicators:
- RSI: 56.85 (suggesting the stock is not oversold but shows weakness).
- MACD: Slightly positive but indicating losing momentum.
- Fibonacci Levels: Resistance at $24.41 and support at $24.10.
Current Price Action:
- Price: $24.335 (as of 2025-03-24).
- Volume: 642,807 shares traded.
Conclusion:
Based on the technical indicators and news sentiment, Nordstrom's stock is expected to face downward pressure. The price may test the lower support level of $23.50 next week.
Prediction: $23.50
Recommendation: Sell
JWN Similar Chart Price Prediction
The price of JWN is predicted to go up 1.41%, based on the high correlation periods with HCM. The similarity of these two price pattern on the periods is 94.38%.
JWN
HCM
Up: 1.41%Similarity: 94.38%
JWN Revenue Forecast
JWN EPS Forecast
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JWN VS S&P500
Nordstrom's digital sales were about $5.2 billion in 2023, making it one of the largest e-commerce firms in the United States.
As an operator of both an upscale department store and a discount chain, Nordstrom can reach a broader customer base than many competitors. Moreover, the availability of upscale brands at Rack provides an advantage over other discounters.
Nordstrom has reduced supply chain expenses over the past two years while improving delivery speed for customers.
JWN Analyst's Forecast
Paul Kearney
Barclays
Hold
2025-01-16
Price Target
$23 → $24
Downside
-0.41%
Barclays raised the firm's price target on Nordstrom to $24 from $23 and keeps an Equal Weight rating on the shares. The firm says preliminary Q4 results for the specialty retailers are strong, as holiday demand topped expectations. The consumer remains resilient and is responding to promotions, the analyst tells investors in a research note.
Jay Sole
UBS
Strong Sell → Hold
2025-01-10
Price Target
$15 → $24
Downside
-0.04%
Dana Telsey
Telsey Advisory Group
Hold
2024-12-24
Price Target
$26 → $24
Downside
-0.87%
