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Macy'S Inc Bearish Moving Average Crossover Alert (M)

By Shiri Gupta

Macy'S Inc (NYSE:M) shares have crossed bearishly below their 10-day moving average of $29.56 on a volume of 2.2 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.

Macy'S Inc share prices have moved between a 52-week high of $45.41 and a 52-week low of $17.41 and are now trading 66% above that low price at $28.94 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 0.5%.

SmarTrend recommended that subscribers consider buying shares of Macy'S Inc on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.13. Since that recommendation, shares of Macy'S Inc have risen 14.1%. 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 inc

Ticker(s): M