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Macy's Crosses Below its 10-day MA (M)

By Shiri Gupta

Macy's (NYSE:M) shares have crossed bearishly below their 10-day moving average of $35.48 on a volume of 1.2 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower 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 $34.90, 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 1.4%.

SmarTrend recommended that subscribers consider buying shares of Macy's on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.20. Since that recommendation, shares of Macy's have risen 4.4%. We continue to monitor M for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses macy's

Ticker(s): M