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Macy'S Inc Falls 3.34% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Macy'S Inc (NYSE:M) traded in a range yesterday that spanned from a low of $38.63 to a high of $40.24. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $39.50 on volume of 5.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Macy'S Inc have traded between a low of $17.41 and a high of $41.33 and are now at $38.73, which is 122% above that low price. The 200-day and 50-day moving averages have moved 1.12% higher and 2.00% higher over the past week, respectively.

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 53.0%. 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