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After Yesterday's Rally of 4.55% Shares Could Potentially Pullback

By David Diaz

Macy'S Inc (NYSE:M) traded in a range yesterday that spanned from a low of $28.84 to a high of $30.29. Yesterday, the shares gained 4.6%, which took the trading range above the 3-day high of $30.05 on volume of 6.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Macy'S Inc have traded between a low of $17.41 and a high of $45.41 and are now at $30.02, which is 73% above that low price. Over the past week, 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 10.1%. We continue to monitor M for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders macy's inc

Ticker(s): M