Kris Kringle (aka Santa Claus, played incredibly well by Edmund Gwenn) played a major role in convincing little Susan Walker (played by Natalie Wood) what Christmas was really about and along the way proving he was the real deal. He did this at THE (NYSE:Macy)’s store at 34 street in Manhattan. That store is still going strong, a national chain and the stock is giving you an entry point in its trend higher.
The weekly chart shows that the next leg higher will target a move to 73.50 and there is support from a rising and bullish RSI and MACD. The Point and Figure chart suggests that may just be a first move as it carries a price objective to at least 86. But that is not the only trade-inspired buy this movie.
Remember how it ends? Susan Walker makes her mother pull over in front of a house for sale and immediately knows that Santa left it for her and her mother, Doris (Maureen O’Hara) and her suitor Fred (John Payne). This was a DR Horton (NYSE:DHI) house. And D.R. Horton stock is also ready to move.
This stock has been moving in a tightening symmetrical triangle since May last year, and approaching the top. It recently retraced 38.2% of a completed bearish Shark harmonic and is moving back up. You could buy it against a stop loss at the December low or wait for a break over the triangle. By the way, that would target a move to 36.
Merry Christmas to everyone!