Macerich has formed a large cup and handle. Look for an upside move beyond the old dashed resistance line and into the descending channel, which it broken out of during the corona crash.
OTM call volume exceeded open interest by a large factor on Tuesday, March 9.
Price has just broken out of the Ichimoku Cloud. It could be the start of a new uptrend.
The idea is to catch a new trend as early as possible and ride on it as long as possible.
No target price to hit. Go long and place a trailing stop along the way as price goes higher. Set a stop loss when you open the position.
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