Nordstrom - Above Average Volume Detected

Published on Thursday, 02 September 2010 11:46 Written by Christian Paolinetti

New York, September 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Nordstrom, Inc. (NYSE:JWN), early in the trading session. Nordstrom is currently trading higher by 6.93%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Nordstrom, Inc. (NYSE:JWN) is a fashion retailer of apparel, shoes, and accessories for men, women, and children. The Company operates through multiple retail channels, discount stores, boutiques, catalogs, and on the Internet.

Nordstrom has already traded 0.755 times its 3-month average volume, and has calculated support and resistance at $28.44 and $32.24 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.3% from its previous trading close, which means that Nordstrom stock is outperforming the overall market.