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Shares of Macy's Fall Below Previous 52-Week Low

By Shiri Gupta

Macy's (NYSE:M) traded at a new 52-week low today of $26.14. Approximately 13.6 million shares have changed hands today, as compared to an average 30-day volume of 3.5 million shares.

Macy's, Inc. operates department stores in the United States. The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy's retail stores sell a wide range of merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods.

In the past 52 weeks, Macy's share prices have been bracketed by a current low of $26.14 and a high of $73.61 and are now at $26.35. 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%.

Macy's (NYSE:M) has potential upside of 33.0% based on a current price of $26.35 and analysts' consensus price target of $35.05. The stock should find initial resistance at its 50-day moving average (MA) of $42.24 and further resistance at its 200-day MA of $46.79.

SmarTrend is tracking the current trend status for Macy's and will alert subscribers who have M in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows macy's

Ticker(s): M