Macys Head and Shoulder
After beating the estimates for loss this quarter Macys broke above the neckline on a reverse Head and Shoulder. The head and shoulder is a pattern that indicates a strong reversal. The volume of trades that accompanied the overall H&S shape confirmed the break out. I see a rise to a recent level of resistance around $50. This would also be a %17 rise which is the depth of the H&S.
investors.com/news/macys-rises-on-q4-beat-is-exploring-real-estate-deals/?ven=YahooCP&src=AURLLED&ven=yahoo
investors.com/news/macys-rises-on-q4-beat-is-exploring-real-estate-deals/?ven=YahooCP&src=AURLLED&ven=yahoo
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