We are sitting at the probable end of Wave A, at which stage we will move up somewhat, only to get back in negative motion for the final leg of the zigzag. So, this thing will go even lower, we just gotta wait.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted...
Going through my morning charting on trading view and i remember seeing #M on unusual whales pop up frequently and i glanced at the chart almost moved on to the next play and literally did a double look, but a cup is fully formed perfect on the one year one day and one year one week chart as you see in the image. It will be interesting to see if we can put a...
Hey Guys!
I see a good Long potential for M .
We are testing 50MA price zone on M-chart and looks like we are ready for break-out and push the price to 200MA on the Month chart.
Price stays very close to the 50MA for more than 5 months. - good sign for long. Also, we see a huge volume on the "bottom".
SL ~ 15-16$
TP1 200 MA on moth chart
TP2 40% zone.
Check my prev post about $M for more details.
On D chart I see bullish flag. It can be a good spot for fast long trade. (+5-15%)
But be care with support line. If we broke it - it can be some down-trend on Dividends date.
This is a significant event for Macy's share holders. Macy's finally broke out for the first time in 6 years that started in July 2015. The significance of this breakout would make it a complex event and there should be a retest of this monthly trend line. The RSI is at the 70 level in the monthly chart. The volume has been decreasing since June 2020. All in all,...
30.44/31.75/32.57/34.50 are the support levels I can see a retracement happening back to 30s but this has a lot of room to breakout just in time for holiday season you don't' want to miss out!
Has been a long time since I purchased Macy’s. I am aiming to close 85% of my holding around $32, a decent gain from holding since 4.75. For more aggressive target, aim for 40ish.
$M has strong recent history of bouncing off psychological levels. Bounced off $26 almost perfectly. Beginning to curl, looking for test of recent high this week.
The question is which direction?
Overall pattern is a bearish megaphone (Green lines)
Broke out of a 8 month consolidation (Purple line)
Now trading in a Bullish flag ( yellow lines)
Usually a breakout of consolidation would bring about a retest of that consolidation area. That retest would mean Macy doesnt break out of the bull flag tomorrow but falls...
Hopefully you find the chart helpful in terms of Supports & Resistance etc.
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Sign of Strength in the chart:
1. Weekly Chart
- Green Pentagon from Re-accumulation
2. Daily Chart
- Breakout from VCP + Reaccumulation
- Turning to Red Pentagon with Potential 1st pullback
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy...
