What is up, everybody welcome to trace trades, where we have technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. I like the preface by saying that i am not a financial advisor nor expert. I am just some random dude on youtube, so take what i say with a grain of salt. You guys have to excuse my tone today.

I am a little bit quieter. I am with my girlfriend in wisconsin for the holidays. They are all sleeping. I just want to be respectful of their sleep schedules.

Lastly, if you think you'll enjoy this video, please drop a like down in the comments uh down in the comments. What am i doing? Please drop a like if you think you'll enjoy the video or dislike either way. It helps out the youtube algorithm, and i would greatly appreciate it and if you'd like to join the family here and see more content like this, i do post daily and uh. Consider subscribing to the channel, it would mean the world to me.

It really does help out a lot. So with that being said, today we are going to be looking at ticker symbol, m macy's incorporated this is our pre-market monday market open watch stock, and i will give you a couple reasons why so, first, let's take a look at the 30-day chart here we have The 30-day 30-minute chart you can see that we have in a high here sitting at about 12.23 and a low sitting down in the 9.67 price valuation range. Something that i really like that i'm seeing here is that the volume being traded on this stock is very consistent. We are not seeing any huge drop-offs or any huge spikes, which means that the volatility here is not going to be super crazy, stupid high and while you do want volatility because volatility drives higher price valuations um, it is also a good thing to have a little Little bit of rest on the old ticker, because that can get kind of hard to to track every day.

Uh with that being said, we are on an overall pretty neutral trend. Here we are at about 1096 price range at the beginning of the month and 1069. At the end, so we are down a little bit, but we are on a three-day upward trend and you could even argue a five-day upward trend. As you can see, we were at 10, 42 um, you know 10.74, so maybe maybe neutral on a five or six day time frame levels to keep in mind for market open on monday.

I would really watch this as a support level. This seems like a very solid support and i would watch this as a resistance line. We do have two candlesticks that are touching right here at 11 26 and we are a little ways off of that. So do watch for that.

I think that is going to be a number you're going to want to write down 11 26. If we push through this 1126 barrier, you are going to be seeing very likely a green day in the market and that'd be a great day for the bulls. Also, we did finish off the day on thursday christmas day below the volume moving average, the vma, so the bears are currently in control this stock. So do keep that in mind.

This seems like a pretty solid entry if you'd like to get into the stock, i would say 1069 is very strong. You know if we do drop below that, i wouldn't sweat too much. Yet we do have a secondary support line here, sitting right around and twelve cents, and this is an even better entry point. If you're, not in this stock um, i don't know if you guys watch chris saying i'm assuming you do, but christine is very big on macy's and i just wanted to offer a technical analysis.

So you have some exact numbers to look for when you're getting into this investment, but he is a strong believer that this stock will run very high, and i also agree. This uh currently is sitting quite a ways below its uh all time or it's 52 week. High, so if we come here to one year, you can see that we used to be upwards in the 20 dollar range and i can very easily see that happening again. If you go in the two-year time frame, you guys get the picture uh thirty dollars.

We have tanked off a lot, but um the financial situation at macy's is not doing too bad. A lot of people don't like to see when a company is closing stores - and you know i can think of quite a few stores that have closed in my area that were macy's, however, to wall street and institutional investors. They see that as a sign of strength. In the company, because they're weeding out things that they don't need, so it's uh, it's a it's a good thing to cut your losses and admit defeat when, when you need to and investors at least big time, investors love to see that so do keep that in Mind um.

I do think this is a great company. I do have a price target on this of 20 in the short term, and i do see this as a very good buying opportunity, especially if you're going to hang on until that 20 price target. This is a almost 100 percent upside and honestly, it could go further than that because the the two year high is in the 30 dollar range. So it's just a matter of time.

When the pfizer vaccine starts rolling out, this stock is really going to take off and i don't think you're going to see this much neutral movement for very long. So i hope that was helpful for you guys. Let me know in the comment section down below. If you have any questions, if you want me to cover any other stocks, this is a stock that i'm going to be watching very closely on market open monday.

I will be establishing a position in this company, i'm going to be looking for this 10 and 12 cents as an entry point, but if we do not dip below that, i will start to very slowly establish a position here in that 10. 69 range. You know a great way to get into the stock would be two dollar cost average. So if you have a thousand dollars - and you are you're not sure if they're gon na drop down to 10 12 but they're hanging down here this, this resistance or the support level uh, you could put 300 400 into this support level and then, if it starts Going back up a little bit, uh like you see here, and it comes back down and touches it again.

You can just you could do a little bit more and if it drops below down to this 1012 range, you can put in a little more cash. You know that's the rest of your thousand dollars and then your average cost is probably going to be somewhere in the middle here in that 10, 40 to 10 50 range, which is a great way and uh easy way to make sure that you're not over buying At a particular valuation, so that is all i have for you guys today. Let me know if you have any questions on macy's uh. Please drop a like on the video if you enjoyed it drop a dislike.

If you did not and consider subscribing to the channel to see more content like this, that is all i have for you guys today and thank you for coming i'll, see you all next time, peace.