The upward trend could come to support Nordstrom in the coming sessions.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 1.02 times its sales.

Nordstrom is in an uptrend in the medium and long term, but the last bearish movement returns close to the USD 57 major support level. Sellers flow has sharply been reduced upon contact with this level (24th June). Indeed, buyers managed to end the trading session near to the equilibrium price and may take the upper hand in the coming trading sessions, helped by the 100-day moving average, to reach USD 61.5.

Investor can take a long position at the current price to take advantage of a new upward acceleration in the direction of USD 61.5. A stop loss is placed under USD 57.