Nordstrom (JWN) PriceWatch Alert Support Down To $30.45

Posted on Monday, September 08, 2008 8:07 AM

Nordstrom (NYSE: JWN) ended the last trading session at $32.56. So far the stock has hit a 52-week low of $25.67 and 52-week high of $52.52. Nordstrom stock has been showing support around 30.45 and resistance in the 33.81 range. Technical indicators for the stock are Bullish and S&P gives JWN a neutral 3 STAR (out of 5) hold rating. JWN appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Jan '09 30 covered call (JWN AF) for a net debit in the $27.16 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 16.58% downside protection and a 10.46% assigned return rate for a 29.13% annualized return rate (comparison purposes only). Nordstrom has a current annual dividend yield of 2.03%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]