THE WEEK AHEAD:
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS:
M (41/103/September 18.7%): Announces Wednesday before market open.
September 18th 13 short straddle, paying 1.30 as of Friday close, .33 at 25% max.
September 18th 5/7/7/9 iron fly, paying 1.07 as of Friday close, .27 at 25% max.
Look to take profit at 25% max.
Sector rotation out of tech and into laggards started on Aug. 4/6, and beginning of Macy's uptrend. After a very strong week, we've seen some pullback yesterday and today. However, there was a bounce at ~$6.80 a share today at the 50% Fibonacci retracement level. I expect this to continue to rise over the next few days and weeks into the $9-$10 range retesting the...
Description of the analysis:
MACY's inc. investment opportunity. I already invest to this stock with big potencial. I bought 1226pcs of shares. Trade what you understand, trade carefully and sparingly according to the business plan. This is not investment recommendation.
Hi, my name is Jacob Kovarik and I´m trading on stock exchange...
Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
Lets keep it simple.
When you look at Macy's Inc on the monthly its at the ultimate all time support! You might not get another chance to enter at this sweet level for a while. With that being said...
This is an update to my original idea posted on 6th June, while $M retraced back to 0.618 levels today - the hourly and 4 hourly formation in the first half went on very well.
However, we did not started rallying higher the same day. With this, is the idea of wave-5 to hit $11 still valid?
The idea invalidates if we close below $7.8 on a daily chart. For now,...
I know this is going to take a turn here in session. Way oversold and below VWAP. CFO had some comments that where realistic and shorts came to pounce on it. Nothing material since they just closed more-than-100% their marketcap with this round of financing.
Looking to 430PM EST as the CEO is live to the nation talking about positive foward looking...
$M has been following elliott wave nicely. Wave-3 was almost 1.62 of wave-1 which is very typical of a stock. With that, as the wave-4 is forming, I am presenting an idea that can lead to ~20% gains during next few days:
What do you think about this idea? Leave your comments below.
Have a great weekend!
Disclaimer: This is not...
🏬 Between a weak earnings outlook, years of growth for online shopping, COVID, and the protests the last place you would think people would want to put their money is in retail giants like Macy's... yet, here we are. M has had a solid recovery since the COVID crash. That said, we think this Macy's day parade may be coming to end as we go into earnings and get...
- Wave C
Reason(s) to short:
- Bearish divergence at 1 hour time frame
- Reached the channel top
- Reached the 1 trend-based Fibonacci extension
- This might be a short term pullback until 0.382-0.236 trend-based Fibonacci extension. If it bounces around this area, prepare for Wave 3.