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Next Support Level for Macy'S Inc (M) is $39.66

By Amy Schwartz

Macy'S Inc (NYSE:M) has opened bearishly below the pivot of $40.45 today and has reached the first level of support at $40.11. Should the shares continue to fall, the support pivots of $39.66 and $38.87 will be of interest.

Macy'S Inc share prices have moved between a 52-week high of $41.33 and a 52-week low of $17.41 and are now trading 132% above that low price at $40.32 per share. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 1.1%.

Macy'S Inc (NYSE:M) is currently priced 24.9% above its average consensus analyst price target of $30.29. The stock should find initial support at its 50-day moving average (MA) of $38.31 and further support at its 200-day MA of $29.59.

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 55.3%. We continue to monitor M for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts macy's inc

Ticker(s): M