Hubert Senters here.
Let’s take a look at Macy’s. The symbol is M. It had a nice little pop today but it’s still terrible looking so you would think of the biggest gainers on the day you’re like oh, it’s game for the gainers. Still loser. So it’s below the club. It’s jumped up and closed above the turning line and slammed directly into the standard line. It went above the turning line into the standard line. I think I just spoke misspoken.
Anyway, it would make a decent short at either $21.82 or right here at the bottom of the cloud if it can get there. I still like it as a short. It doesn’t look like a long to me at all. It would have to close above $24 in order for me to get long on this thing anyway. I think it adds to your short position if you have one.
Short them on bounces as you can see every time it’s jumped up. Let’s have one little decent test here of slightly above the cloud in late November of last year. But as for the rest of it cloud failure standard line failure, standard line failure, standard line failure, cloud failure standard line and cloud failure so I assume it’s going to do it again. It’ll either fail here or into the cloud so that is my opinion of Macy’s stock symbol M.
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Good luck. Hope it helps. See you in the next video.