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Macy's Inc
Long

Macys Head and Shoulder

107
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
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Head and Shouldersh&sMmacys
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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.