Possibility of a 10% reverse

85 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.
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.
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.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out