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Macy'S Inc Set to Possibly Rebound After Yesterday's Selloff of 1.02%

By Amy Schwartz

Macy'S Inc (:M) traded in a range yesterday that spanned from a low of $23.30 to a high of $23.74. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $23.37 on volume of 2.4 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, Macy'S Inc share prices have been bracketed by a low of $22.73 and a high of $41.99 and are now at $23.39, 3% above that low price. The 200-day and 50-day moving averages have moved 0.6% lower and 1.91% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Macy'S Inc on November 15th, 2018 by issuing a Downtrend alert when the shares were trading at $32.11. Since that call, shares of Macy'S Inc have fallen 26.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders :m macy's inc

Ticker(s): M