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After Yesterday's Rally of 1.57% Shares Could Potentially Pullback

By David Diaz

Macy'S Inc (NYSE:M) traded in a range yesterday that spanned from a low of $23.71 to a high of $24.24. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $24.04 on volume of 3.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Macy'S Inc share prices have moved between a 52-week high of $45.41 and a 52-week low of $20.85 and are now trading 15% above that low price at $24.07 per share. 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 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 17.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders macy's inc

Ticker(s): M