AlexandreFF
Short

Possibility of a 10% reverse

NYSE:M   MACYS INC
84 2 2
Here it is Macy's. we saw twice overbought RSI levels wich led the price to reach the main trend support. This is the 3rd time and with a divergence. the price can be shorted now and for that, i would suggest to place a stop loss at or above the trendline resistance. The only risk we encounter here, is the price to reach the middle trend support and then bounce back to the top.
Yabi
2 years ago
I see Macy's strengthening within the slope of your channel. A line that was once resistance in 2011 is now supporting price action since Dec. 2013 and the upper channel line gave way to raise the slope for a higher target. Sit a green line parallel below current price to identify the new path of price. The RSI indicating a +reversal by making new lows when price is making higher highs. I'd stay long for now.
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AlexandreFF Yabi
2 years ago
Thank you for your opinion Yabi, that's why i think it's a risky trade to short now. We could short now and expect a ~15% return but it would be safer to wait for the price to break the middle trendline and then short it and still get the ~10%. Anyways I agree with you and for now i didn't take any positions, if the price breaks the resistance line and the resistance trendline it might be a good choice to go long.
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