Macy's - A seductive mistress
Macy's had some major price action advances recently and sold hard after pushing to highs this stock hasn't seen for more than a year - bag holders jumping, no doubt. I'm liking the fact that price action has been bouncing off the 20 EMA with increasing vigor. MACD says hold on and wait a couple days for a better entry. I'm looking to buy on a gentle and constructive pullback to the 20 EMA. Target $22.
If you're unsure about this stock, take quick look-see at the weekly chart. Price hasn't touched the 8 EMA since the first week of November -- RSI has remained at 'buy' levels the entire time. It hasn't looked back. Short interest remains high (well into double digits). When will they learn?
If you're unsure about this stock, take quick look-see at the weekly chart. Price hasn't touched the 8 EMA since the first week of November -- RSI has remained at 'buy' levels the entire time. It hasn't looked back. Short interest remains high (well into double digits). When will they learn?
Note
Another unexpected winner during the pullback frenzy this past week.Note
This company is the cockroach of retail. I admire this company. It's board is complete doghi! and look what it's able to accomplish. This ain't now short squeeze. This is a company that persists because of its holdings. REAL book value keeps dinosaurs like this alive.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.