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Watch for Macy'S Inc to Potentially Pullback After Gaining 1.61% Yesterday

By Nick Russo

Macy'S Inc (NYSE:M) traded in a range yesterday that spanned from a low of $28.67 to a high of $29.45. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $29.34 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 10.0%. We continue to monitor M for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Macy'S Inc share prices have been bracketed by a low of $17.41 and a high of $45.41 and are now at $29.18, 68% above that low price. The 200-day and 50-day moving averages have moved 1.4% lower and 0.49% lower over the past week, respectively.

Keywords: rebounders macy's inc

Ticker(s): M