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Shares of Macy'S Inc Fall Below Previous 52-Week Low

By James Quinn

Macy'S Inc (NYSE:M) traded at a new 52-week low today of $20.16. This new low was reached on approximately average trading volume as 3.4 million shares traded hands, while the average 30-day volume is approximately 3.5 million shares.

Potential upside of 27.1% exists for Macy'S Inc, based on a current level of $20.58 and analysts' average consensus price target of $26.17. The stock should run into initial resistance at its 50-day moving average (MA) of $42.24 and subsequent resistance at its 200-day MA of $46.79.

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, women, and children apparel and accessories, cosmetics, home furnishings, and other consumer goods.

Over the past year, Macy'S Inchas traded in a range of $20.16 to $45.41 and are now at $20.58. 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 its subscribers protect gains by selling shares of Macy'S Inc on March 21st, 2017 by issuing a Downtrend alert when the shares were trading at $28.62. Since that call, shares of Macy'S Inc have fallen 27.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows macy's inc

Ticker(s): M