I'm Long Macy's. I believe the retail sector correction is overdone and it will recover back. There is a strong buy signal on the monthly with a Bullish Engulfing.
Ryan
After beating the estimates for loss this quarter Macys broke above the neckline on a reverse Head and Shoulder. The head and shoulder is a pattern that indicates a strong reversal. The volume of trades that accompanied the overall H&S shape confirmed the break out. I see a rise to a recent level of resistance around $50. This would also be a %17 rise which is the...
Weekly MCD is signalling early buying opportunity but the trend remains down and weak. A bounce towards previous support $42 now is the overhead resistance and good target. Go real-time alerts www.2waytrading.com
Thick volume over the last few days and we're not breaking any new highs or lows. I doubt thats a random buying spree after jumping onto the resistance trend.
You are looking at a WEEKLY chart of Macys. This stock has been in an uptrend for 6 years!
As you look through a bunch of stock charts each weekend, you should be looking for stocks like this one. There is no telling how long this uptrend will last but the trend is your friend until its not. My advice, wait for a pull back to the uptrend line (UT 3) or a break...
Another chart that caught by eye as a big negative mover on the StockCharts Technical Rankings. I will look for confirmation for the price to move out of the symmetrical triangle that is forming but given its recent underperformance of the S&P I am again biased on the short side for this trade.
This stock is ready to rise after we had a low volume test on the daily. Macy completed the downward cycle with 3 clear levels of drop, followed by an accumulation phase, then a breakout and a clear rejection of the top edge of a value area. You can see that levels are balancing higher now.
Fundamentals are going to drive this market to insane levels, you...
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...
