Macy's Bullish Moving Average Crossover Alert (M)
Macy's (NYSE:M) crossed over its 10-day moving average of $31.60 on a volume of 2.3 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, Macy's share prices have been bracketed by a low of $29.94 and a high of $73.61 and are now at $31.85, 6% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Macy's on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $39.76. Since that call, shares of Macy's have fallen 21.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses macy's