On Friday, Nordstrom stock reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 78 the day before.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating tracks share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks typically have an RS Rating of at least 80 in the early stages of their moves.
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Is Nordstrom Stock A Buy?
Nordstrom stock retook its 200-day moving average early June. While department store stock is not near a proper buy zone right now, see if it is able to form and break out from a proper base.
Earnings growth rose in the company's latest report from -40% to 0%, but revenue fell from -4% to -12%.
Nordstrom stock earns the No. 1 rank among its peers in the Retail-Department Stores industry group.
