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Purely technical. Stop just above 36 for now. Using NOV puts.
$M tight consolidation here. I have $XRT (Retail) breaking down next week. Time will tell.
M has ran from 18.00 to 42.00 in the past year and now consolidating in a descending triangle back at support at 35. Price currently sitting at uptrend support with downward momentum. Looking for put entry around 36 with hope of the descending triangle crack after 35. This should force a drop down to 32 if not lower. If this breaks back above 36, hold off. MACD is ...
Simple trend continuation pattern of a very good sector´s company.
Chart used for my own historical reference. Any input is welcome.
M is for Macy's. Let's see what tomorrow brings?
Macy's M It's not often that you see a stock breakout to the Upside on the Daily Chart
and then follow that up the following day,with a Breakaway Gap "Island Reversal" to the Downside
Macy's fell 16 % today, on 45 Mil Shares,large institutional share liquidation
even though they beat consensus earnings today 8/15/18 Ouch.
I point this out simply to remind ...
Lured some shopper's in yesterday, prior to earnings.
This is all what Macy did this year... V forming.
The only volatility contraction earnings play I'm looking at for this coming week is in Macy's, which announces earnings on Wednesday before market open, since it has the implied volatility rank and 30-day metrics I'm looking for (76/56).
Here are some Macy's preliminary setups, with the short strangles set up around the 20 delta strikes:
August 17th 36/44 short ...
Waiting on Earnings (08/15), has been an awesome Dividend play if you picked it up lower down.
First entry 45sh level - second entry 49sh level and PT 30
Here with a Short Postition trade based on previous resistance top line and Gap Fill.
Breakout from bull flag consolidation looks to have M ready to return to resistance just over 45 area in my opinion. GLTAhttps://www.tradingview.com/x/V6MBkJ9c/
M closed above 20 SMA today and broke through the bullish pennant. TSI bounced off 0 looking to cross. Going long.
Looking back to the gap down at the beginning of 2017, M is showing a break out from the daily bull flag that started to take shape in June.
Not saying anything about the death of retail, but this looks ready to run up, especially with earnings on 8/15