The Demise of the US Consumer in 1 Chart
Mighty slim pickin's for earnings plays this week from a premium sellers point of view. M (Macy's) is one of them with high IVR/high IV (100/92). Because I've got quite a bit of buying power available, I'm going short strangle: Nov 20 39/53.5 POP%: 74% Max Profit: $101/contract Buying Power Effect: ~$463/contract Break Evens: 37.99/54.51 As with all short...
The recent peak at $73.61 was exactly a 1.61 retracement from the 2007 peak to 2008 bottom. This is often a place where stocks will find resistance. Additionally, this stock has broken down from a bearish wedge, which suggest a fairly steep fall from current prices. I expect this stock will fall between the 0.50 and 0.382 retracement zone (the green layer,...
71/72 JulyBear Call Spread .10 limit I will not even look at this spread unless M closes above 69.30
Spread is above a GNG and above a strong resistance line.
Thick volume over the last few days and we're not breaking any new highs or lows. I doubt thats a random buying spree after jumping onto the resistance trend.
You are looking at a WEEKLY chart of Macys. This stock has been in an uptrend for 6 years! As you look through a bunch of stock charts each weekend, you should be looking for stocks like this one. There is no telling how long this uptrend will last but the trend is your friend until its not. My advice, wait for a pull back to the uptrend line (UT 3) or a break...
Nice gap on the hourly. Potential break out on the daily / weekly
MACD turning up ready to trigger RSI over 50 building a triangle target blue linie