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Next Resistance Level for Macy'S Inc (M) is $22.81

By David Diaz

Shares of Macy'S Inc (NYSE:M) have bullishly opened above the pivot of $22.27 today and have reached the first resistance level of $22.59. Should the shares continue to rise, the resistance pivots of $22.81 and $23.35 will be of interest.

Over the past year, Macy'S Inc has traded in a range of $20.85 to $45.41 and is now at $22.42, 8% above that low. 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%.

Macy'S Inc has overhead space with shares priced $22.42, or 14.3% below the average consensus analyst price target of $26.17. The stock should run into initial resistance at its 50-day moving average (MA) of $42.24 and subsequent resistance at its 200-day MA of $46.79.

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 21.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts macy's inc

Ticker(s): M