JWN: Short Squeeze Pending???
I have been trying to simplify my charting as of late. Fewer Indicators. Less advanced Math for the moment. Trying to Gain perspective.
Here is a Chart of a Trade I like.
Nordstrom is 5* rated Morningstar, and A-rated Profitable company.
There is a very large short position ... slightly better than 30% of the Float.
JWN has traded between 15 -16 since late June (last 3 weeks) A strong breakout above 16 should lead to a retest of the interim high of 25. The downside risk is probably 2 pts to a low 14 handle.
8 pt of Gain vs 2 pts of Risk. 4:1 Profile ... I will take it for a top retailer beat up by lockdowns.
Here is a Chart of a Trade I like.
Nordstrom is 5* rated Morningstar, and A-rated Profitable company.
There is a very large short position ... slightly better than 30% of the Float.
JWN has traded between 15 -16 since late June (last 3 weeks) A strong breakout above 16 should lead to a retest of the interim high of 25. The downside risk is probably 2 pts to a low 14 handle.
8 pt of Gain vs 2 pts of Risk. 4:1 Profile ... I will take it for a top retailer beat up by lockdowns.
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