Macys has been in this downtrend all year, but many other tickers are breaking the 8-10 month downtrend. this can be next!
watching for longs above 22.40, shorts below 19.45
M
Consumer spending is the chief concern for retailers, but the market is mixed. Home Depot (HD) and Walmart (WMT) are continuing to post gains while Target (TGT) slides due to inventory surplus on clothing and high-ticket items. Macy’s hasn’t missed a beat since the 2020 lows, recovering more than 30% of its previous share price. We don’t know where the price...
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The Macy's stock has been surprisingly steady over the last few months, but I think it's topped for the short term. If I had to guess, there's a high chance we see single digits or close-to single digits before 2023, hence I am publishing this to keep an eye on it.
Trend:
Below 50,100 and 200 EMA
ADX, DI below 20
Trend seems to be weak
Macro impact:
Consumer cyclical stock are not a good buy
Inflation impact on consumer purchase
High interest impacting credit buying
Recommendation:
Wait for price to cross above the resistance @ 24.95 for re-assessment
Earnings watch 5/26:
MOV
BABA
TD
M
DLTR
MRVL
ULTA
DG
COST
JACK
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading...
Whats The Plan/Trade/Thought
The Departmental Store sector was not one of my original shortlist. But I also do think my current method of shortlisting from the median of the monthly performance (both negative and positive), might not be the best. Even if the price performance meets my expectations on what I should be trading in a volatile ranging market.
...
An inverse H&S formation on the Weekly chart on Macys
The price will form a right shoulder and climb out of 1.618
This is bullish for price once completed
Brick and mortar retail has been punished by online shopping advances.
$M has seen significant erosion since 2015 ATH.
Now seeing rejection on monthly chart by the 100 & 200 EMA, testing 50 EMA in coming months.
Now, in the face of economic slowdown it's increasingly likely that the retail giant will realize further losses given declining consumer sentiment...
On the weekly chart, Macys hasn't seen much price action. It's pretty much flat and boring. Yeah, there was a pike but it didn't last and that picture stayed the same. It's a real torture having to carry Macys' bags. So let's wait. Wait. Wait and see. Wait till it cracks $28.10 and then we can wake up and prepare to trigger.
NYSE:M
Consolidating in between key hourly supply and demand zones. Opportunity for play to either side with low liquidity zones above and below. Daily bullish RSI divergence for potential swing on a pull back.
Calls: Bounce of demand or breakout through supply
Puts: Rejection of supply or breakdown of demand
25 Feb 2022:
1)ideal entry was 22KL
3)second ideal was second day green low 25KL
4)demand zone: 22$
5)supply zone: somewhere around 30$ (not sure yet of supply zones) but strong res and historic consolidation
Scale out at 28s and Full out at 30s
Always welcoming comments and corrections!
Thank You.
ah and yes we still have time until March 10th )
