• Return to Headlines

Watch for Shares of Macy'S Inc (M) to Approach Support at $39.08

By James Quinn

Shares of Macy'S Inc (NYSE:M) have bearishly opened below the pivot of $40.12 today and have reached the first support level of $39.53. Investors may be interested in a cross of the next downside pivot targets of $39.08 and $38.04.

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 128% above that low price at $39.72 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 2.0%.

Macy'S Inc (NYSE:M) defies analysts with a current price ($39.72) 23.7% above its average consensus price target of $30.29. The stock should find initial support at its 50-day moving average (MA) of $32.39 and further support at its 200-day MA of $26.10.

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 53.0%. 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