Macy's Looks Inviting

I spy a trade setup in Macy's (M) -- that is, I've got the raw material for a trade, but I don't yet have the "trigger" that tells me it's worth jumping in.

In any case, for this setup I see a Fibonacci price cluster of support -- which I define as least three Fibonacci price relationships that come together within a relatively tight range, thus identifying a key support decision. In the case of Macy's, this range comes in between $46.49 and $47.65, where I see a coincidence of at least 11 overlapping price relationships. I also like this cluster because it includes quite a few "symmetry" projections, or measured moves, from prior corrective declines....272 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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