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SmarTrend Watching for Potential Pullback in Shares of Macy'S Inc After 3.04% Gain

By Nick Russo

Macy'S Inc (NYSE:M) traded in a range yesterday that spanned from a low of $22.32 to a high of $23.36. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $22.50 on volume of 4.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Macy'S Inc share prices have moved between a 52-week high of $45.41 and a 52-week low of $20.85 and are now trading 11% above that low price at $23.09 per share. 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%.

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: rebounders macy's inc

Ticker(s): M