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TOPIC: Swing Trade Alert: Macy’s, Inc $M

Swing Trade Alert: Macy’s, Inc $M 3 weeks 9 hours ago #11263

  • inthemoneystocks
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Shares of Macy’s, Inc (M) continue to sell as retailers around the United States shut doors and consumers shelter in place. While the panic is palpable, investors may want to take a look at the $5.45 as a swing trade alert. The reason this level is worth a shot is because it is a technical double bottom from the 2008, Great Recession low. This gives investors and swing traders a level to trade off of.

As a Chief Market Strategist, if I buy the swing trade alert on Macy’s, Inc I will likely treat it like an option. Meaning, you buy it expecting a double or triple off that level, maybe even a quadruple, but you understand you are buying it at bankruptcy levels, and it could end up worthless. If I do play this swing trade alert level, I would buy a small position as to not risk too much capital. This is the correct risk management as during this Covid-19 outbreak, none of us know how this will play out or how long it will last.

See the chart here: https://inthemoneystocks.com/swing-trade-alert-macys-inc-m/

Gareth Soloway
Chief Market Strategist

Swing Trade Alert: Macy's, Inc (M) - In The Money Stocks
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