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, there should be a retraction before the bull run toward 40. This chart shows the price should rise to 30 before going back to retest 22.80.
Trade active:
puts are printing!
Comment:
This is not going down as fast as it should and the red volume is decreasing. It could turn back up soon. I would close any puts at this price and get back in once the volume goes higher and if the price drops below 25.
Comment:
So we skipped "1" and continued with "2"
Much more potential to be unleashed here. Keep M in your watchlist!
Much more potential to be unleashed here. Keep M in your watchlist!
