Although i dont really like the industry Macy is in- price action and charts do not lie. Again, you can see a nice trend line. We are currently at a nice support with a lot of buying pressure down here. Combine that with the gaps up (91% of gaps always get filled, and we have TWO!)
I believe this is a great time to buy some kind of long position with a target first at $28.17. But then 29.55 and 29.90. Will most dip at 29.90 and then chop around a little before continuing to 31.30 and finally 32.30.
After these levels- we will see 33.00 and lastly 33.40. I would not get greedy beyond this target.
Great opportunity!
I believe this is a great time to buy some kind of long position with a target first at $28.17. But then 29.55 and 29.90. Will most dip at 29.90 and then chop around a little before continuing to 31.30 and finally 32.30.
After these levels- we will see 33.00 and lastly 33.40. I would not get greedy beyond this target.
Great opportunity!
PG13