You are looking at a WEEKLY chart of Macys. This stock has been in an uptrend for 6 years!
As you look through a bunch of stock charts each weekend, you should be looking for stocks like this one. There is no telling how long this uptrend will last but the trend is your friend until its not. My advice, wait for a pull back to the uptrend line (UT 3) or a break above the current downtrend line (DT). When you get either one of these, go long with a comfortable stop. There is no way to know it will definitely be the right time to buy the stock. So use comfortable stops and pay attention to the trend lines.
I want to remind you about the moving averages. Draw a chart of Macys with the 8, 21, 50, 100, 150, and 200 moving averages (ma). I prefer the exponential moving averages but use simple or standard. You will get the picture either way. The current stock price of Macys is between the 8 and 21 moving averages. The 21 week moving average has been a very good place to buy Macys in the past. On rare occasions it has dropped to the 50 week moving average. That was an even better place to buy.
As you look through a bunch of stock charts each weekend, you should be looking for stocks like this one. There is no telling how long this uptrend will last but the trend is your friend until its not. My advice, wait for a pull back to the uptrend line (UT 3) or a break above the current downtrend line (DT). When you get either one of these, go long with a comfortable stop. There is no way to know it will definitely be the right time to buy the stock. So use comfortable stops and pay attention to the trend lines.
I want to remind you about the moving averages. Draw a chart of Macys with the 8, 21, 50, 100, 150, and 200 moving averages (ma). I prefer the exponential moving averages but use simple or standard. You will get the picture either way. The current stock price of Macys is between the 8 and 21 moving averages. The 21 week moving average has been a very good place to buy Macys in the past. On rare occasions it has dropped to the 50 week moving average. That was an even better place to buy.
