Potential outside week and bullish potential for MYREntry conditions:
(i) higher share price for ASX:MYR above the level of the potential outside week noted on 6th September (adjusted with the incidence of the inside week the following week, allowing activation of the trade above the level of the range for that week, i.e.: above the level of $0.855, as depicted by the blue dotted line and accompanying text on the chart).
Stop loss for the trade would be:
(i) below the swing low of 4th September (i.e.: below $0.795), should the trade activate.
30M trade ideas
MYR swing long, targeting next levelMYR is in a strong weekly uptrend and has had a recent strong impulse move followed by tight consolidation right below a major weekly anchor to the downside.
Aggressive entry has likely already passed a few days ago, so waiting for the BO which adds confirmation, then getting in on the pullback targeting next level.
Myer is strong if it can get above 39c.Been on watch for a while, looking to enter if share price gets above 39c. Yellow trend line is a long term downtrend which if myer can break the 39c mark, i can see it pushing up to test. Relatively safe entry here if you believe myer is still competitive in their market due to the bounce on the daily 43ema.
Stop loss at 27c.
Price at a critical junction...would you be backing retail now??Long term downtrend v's short term uptrend, which will prevail? Retail still has a long way to go to return to normal and Myer has big exposure to city centre locations which have seen significant reduction in footfall. Price has been consolidating since early jan. Big move due but in which direction?
MYR sellers becoming exhausted from sells, price structure shows bears weakening, closely finished.
Will be looking for bullish PA and structure over coming months.
l'll be wanting to see if and when big boys are here before l enter in as l hate gambling
clear charts! just read logic of buyer vs sellers
$MYR - MYER HOLDINGS - Amazing retail run$MYR - MYER HOLDINGS - Amazing retail run
Myer is another surprise runner with close to a 100% gain over since the start of March. Might be worth a look.
About Myer
Myer Holdings Limited (Myer) is an Australia-based department store company. The Company's department store network includes a footprint of approximately 60 stores in retail locations across Australia. The Myer merchandise offer includes 11 product categories: Womenswear; Menswear; Miss Shop (Youth); Childrenswear; Intimate apparel; Beauty, fragrance and cosmetics; Homewares; Electrical goods; Toys; Footwear, handbags and accessories, and General merchandise. The Company also owns womenswear designer brand, sass & bide. The Company's brands include TOPSHOP TOPMAN, Seed, French Connection, Mimco, Veronika Maine, Jack & Jones and Industrie. The Company's subsidiaries include Myer Pty Ltd, NB Elizabeth Pty Ltd, NB Russell Pty Ltd, Warehouse Solutions Pty Ltd, Myer Group Finance Limited, Myer Group Pty Ltd and Myer Travel Pty Ltd. The Company also undertakes activities outside the department store retail business through its subsidiaries, sass & bide, and FSS Retail Pty Ltd.
