retail trading like a biotechfutes are down tonight, looking for some give back in this name. Overbought is an understatement. PUTS
0JXD trade ideas
$M 1hr with support and resistance$M 1hr with support and resistance
RSI needs a breather
Will look to scalp puts, possibly even swing overnight.
No position as of now
Macy's--Up 20% in 1 day with COVID lurking againSuddenly Macy's is cool again. I'm not buying it. In fact, I'm shorting it!
Upside side after good earnings
Bias on Upside after good earnings.
Weekly chart above 23.8% Fibo
Copy the moment since GFC 2008
Short M I have no reason to short this stock really.
The volume is still strong and above average, I am shorting only because it is a retail stock and competition are very strong in this sector of the market and it is already up 95% for 2021.
Pump & Dump of the DayBought a few different puts exp going out 2-4 weeks. Dying business. Overbought. Retail will have a hard time going into the holidays. PT cuts on the way..
M Potential Upwards Breakout From WedgeBeen on a clear upwards trend over the past 8-10 months. Posted big gains on Friday, looking for a breakout from the wedge on Monday. This stock frequently repeats big single day gains. Potential to break out into the $24 range next week.
Curious on other peoples thoughts.
Macys on the MoveA very bullish cup and handle.
Formation
I'm just saying.
Look at it this way
YOU CAN NOT HAVE THE MACYS THANKSGIVING PARIDE WITH OUT MACYS!!!(NYC)
Soo for a long paly a super cheap price I think this is a win win.
Macy's? I'm Long LmaoKinda doing this one for fun, it's cheap with low risk. (Tight stop). Macy's is at a pivotal point, and is trying to reverse the bear trend, which is still apparent on the weekly chart. Fundamentally, it's a dead business, with -$259M in revenue and with insiders owning only 0.12% of shares. Long term is still bearish but I think price action is just doing it's thing on the daily. Also was this stock targeted by the short squeeze crowd before? Regardless I just think the chart looks kinda neat on the daily lol.
Offshore: Monitoring Macy's (M)The share has been consolidation in a sideways range since late February, with a series of high lows and lower highs resulting in a medium term pennant formation. Recently, we saw the share run into earnings after which it has been in a short term low volume consolidation .
For the buy/long to have conviction we will have to see candles with wider ranges pushing into the overhead resistance. This will also signal expansion away from the moving averages, which is a typical feature of a break-away move. (A great example of this locally was Absa Group JSE:ABG over the last week or so.
Provisional Trade Levels:
Current: $18.40
Initial Accumulation (Moderate Size): $18.40-$18.80 then add on a break above $19.30 .
Stop-loss: $17.30
Target Range: $21.30-$22.40
Macys weekly daily charts. breaking out on higher volume? Macys weekly daily charts. breaking out on higher volume?
Not too confident with M this morningSeems to be at the resistance point in my channel and overbought. It looks like it's going to be a possible 2 point short. Being that the channel had so many pushes in both directions i don't think it's stable enough anymore a new trend might follow. My entry will be $17.70 depending how the bars look and my stop loss would be $18. will update if I take the trade.
<TradeVSA> Macy Building Strong Support with NS SignalSign of Strength in the chart:
1. Re-accumulation
2. Effort bars with NS signal
3, Price holding well at 20/40ma
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 or sell any stock
M ready to go!Self Explanatory wedge....M is ready to go!
For a quick win, a price target of $20 is very likely to be achieved soon. As per my previous post, I am still bullish for M at $30 by summer.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
If you like the idea, do not forget to support with a 👍 like and follow.
Are the Bulls Shopping at Macy’s? Macy’s has screamed higher since November, and now may be offering the bulls another entry.
The first major pattern on the retailer’s chart is the upward sloping trending running from the mid-December lows. The bears tried to break it last week but apparently threw in the towel.
Next is the rising 50-day simple moving average (SMA), which M has also held.
In addition to the 50-day SMA, prices are now crossing back above the 8- and 21-day exponential moving averages (EMAs). That could indicate the shorter-term trend is turning more positive.
Finally, the macro backdrop is potentially favorable. One thing is the obvious boost to retail from the economy reopening. Companies with lots of debt and short interest can also benefit as extreme fear unwinds.
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M to test 22/24 againjust watching this.
i don't really care for this stock much.
will not enter position.
just to observe the play out.
if 20 MA holds, could be a possible swing. Risky imo.
DYOR.
