After Yesterday's Rally of 1.23% Shares Could Potentially Pullback
Macy's (NYSE:M) traded in a range yesterday that spanned from a low of $34.81 to a high of $35.37. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $35.36 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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.
In the past 52 weeks, shares of Macy's have traded between a low of $29.94 and a high of $73.61 and are now at $35.23, which is 18% above that low price. 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%.
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