Nordstrom is an upscale department store chain in the United States. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings. There are now 225 stores operating in 29 states across the U.S.

On February 16th, the Seattle-based retailer posted a 12.5 percent increase in retail sales for the three months ending in January, marking its fifth consecutive quarter of double-digit, year-over-year revenue growth. Once again, Nordstrom seemed to benefit from an affluent customer base that's less affected by a sluggish economic recovery than the lower-income shoppers of some other department-store chains. The company reported a fourth-quarter profit of $236 million, or $1.11 a share, representing a 1.7 percent increase from a year ago. Nordstrom, which has been spending heavily to secure its online future plans to continue investing in its e-commerce business over the next year. The company plans to spend $140 million, or 30 percent of its capital expenditure budget, on e-commerce improvements this year. That's up from $100 million, or 20 percent, last year. As a result, it expects to add nearly 400 employees to its e-commerce operations in Seattle.

The action evolves above its daily moving averages in an ascending triangle whose transfer permits to plan an objective in the area of $60. The proximity of the $52.7 short-term resistance could lead to a consolidation in the short term but the crossing would mark a strong buy signal, all the more so the 20-day moving average come in support. The crossing of this level would confirm the buy signal mentioned above.

Purchasing strategy will be committed to the crossing of levels above with a target located at $58.45 in the first place. A protective stop will be fixed under the $50.5 daily support.