Hubert Senters here.
Let’s take a look at Macy’s nice little pattern. It’s also one of the biggest net gainers today up 8 percent. That’s pretty huge. $36 stock is about three bucks. So as you can see Amazon hasn’t killed every e-commerce out there in the world or every retailer Macy’s still looks like it’s doing pretty good. Technically I have no idea what their fundamentals looks like but it looks pretty good.
Next target I would say would be up here in the 50s. Let’s just double check that with some good old fashion Fibonacci. I’m going to shrink my sub graph one here so I can look at it. Going to go past it I bet you because I’m going to go one, two, three so what I’m going to do is different.
I’m going to go from one, two, three. So instead of counting one here two here and three there I’ll show you I’ve got to pick that. So if I go point one, point two and then point three so I past that. So I have to adjust slightly and use most recent low here. One most recent, two most recent, I have three, blew right past that so now I have to wait for a pullback.
Or you can cheat just a little bit. You can use a smaller timeframe and see if you can pick another spot like this right here. And you can go point one, point two and then what I can do is I can cheat and say ‘’well, it’s probably going to pull back to at least $38.46’’ so in other words I’m trying to predict what it’s going to do by going from the low here to the high here to the pullback here. It’s probably going get right in between those two. And then its next target would be $41.53, $43.83 $46.14 and $47.56 tonight.
Tonight would be my last live webinar before I go on vacation for the bond trading boot camp. This is bond 101 where I’m going to teach you framework on how to pick the best market for you to trade whether it’s bonds or stocks or options or whatever we’ll talk about all that stuff.
I’m also going to teach you ‘’How to make $6,281.25 in 10 days Risking only $312.50. Bonds are moving fairly well right now so we’re going to talk about that. I will see you tonight Tuesday, June 5th at 8PM EST. Click CLAIM MY SPOT NOW to register for the webinar.
Good luck. Hope it helps and I’ll see you on the webinar.