$M
Macy's also was the recipient of some unusual options trading activity on Friday. Stock traders purchased 8,094 call options on the company. WKRB News
Another chart that caught by eye as a big negative mover on the StockCharts Technical Rankings. I will look for confirmation for the price to move out of the symmetrical triangle that is forming but given its recent underperformance of the S&P I am again biased on the short side for this trade.
This stock is ready to rise after we had a low volume test on the daily. Macy completed the downward cycle with 3 clear levels of drop, followed by an accumulation phase, then a breakout and a clear rejection of the top edge of a value area. You can see that levels are balancing higher now.
Fundamentals are going to drive this market to insane levels, you...
Macy's is trying to break a consolidation phase in place since March. With a shift toward consumer discretionary underway, this stock could run if it breaks this March-April resistance line.
Here it is Macy's. we saw twice overbought RSI levels wich led the price to reach the main trend support. This is the 3rd time and with a divergence. the price can be shorted now and for that, i would suggest to place a stop loss at or above the trendline resistance. The only risk we encounter here, is the price to reach the middle trend support and then bounce...
