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Double Bottom On $M Should Signal Stock Bounce *PIC*

The entire brick and mortar retail sector has been slammed. Apparently, everyone is doing all their shopping online. I am being a little sarcastic here but that is what you would think when looking at a stock chart like that of Macy's Inc (NYSE:M). Whatever your view of the long term success/failure of retail brick and mortar companies may be, there is a near-term bounce opportunity on shares of Macy's Inc. The stock has hit a major double bottom after falling from $45.50. This is a 33% decline in less than 2 months. The double bottom will likely give the stock a technical bounce, maybe as high as $35. It is worth a look for aggressive swing traders.