$M (MACY'S INC) expected to go higher to $11 in wave-5
Updated
M has been following elliott wave nicely. Wave-3 was almost 1.62 of wave-1 which is very typical of a stock. With that, as the wave-4 is forming, I am presenting an idea that can lead to ~20% gains during next few days:Entry: $8.4-8.00
TP1: $10.8-11.2
What do you think about this idea? Leave your comments below.
Have a great weekend!
Disclaimer: This is not a financial advise. Please make your independent decisions while making an investment.
Note
Wave-3 carried on until $10.46, this should conclude wave-4 entry zone at $8.83 - 8.32. I am anticipating wave-5 to shoot above $11. Will share updated chart as wave-4 concludes.
Trade active
Note
Updated chart: ![[Update 10-Jun] $M expected to go higher to $11 in wave-5](https://s3.tradingview.com/l/LKKq6Ixz_mid.png)
Trade closed manually
Market went below the trend line which invalidates this setup.
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