$M (MACY'S INC) expected to go higher to $11 in wave-5

$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.

Yorum:

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.

İşlem aktif

Yorum:

Updated chart:

İşlem elle kapatılmış:

Market went below the trend line which invalidates this setup.