Shares of Macy’s, Inc (M) continue to sell as retailers around the United States shut doors and consumers shelter in place. While the panic is palpable, investors may want to take a look at the $5.45 as a swing trade alert. The reason this level is worth a shot is because it is a technical double bottom from the 2008, Great Recession low. This gives investors and swing traders a level to trade off of.
As a Chief Market Strategist, if I buy the swing trade alert on Macy’s, Inc I will likely treat it like an option. Meaning, you buy it expecting a double or triple off that level, maybe even a quadruple, but you understand you are buying it at bankruptcy levels, and it could end up worthless. If I do play this swing trade alert level, I would buy a small position as to not risk too much capital. This is the correct risk management as during this Covid-19 outbreak, none of us know how this will play out or how long it will last.
A net gain of over 450% in 2020 is a reality for members of Verified Investing Alerts. For investors who are sick of losing money as the markets collapse due to the coronavirus, this is the key. Swing trading off technical levels allows smart investors to jump in at key levels and out for 10%+ gains in days. Master Trader Gareth Soloway has guided his members, actively swing trading stocks using key technical levels to multiple profits of 10% almost every day. With the action these days, members get multiple trades a day. See the VERIFIED track record HERE (scroll down on the page). Members get exact entry prices, stops, targets and daily videos that analyze the market, stock and current positions. The second Master Trader Gareth Soloway buys/sells a stock, members get a text/email alert to get them in/out of the trade in seconds. Join today and profit for life!