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Archive
- 12/13/2024 -
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Macy's Inc. (M) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Macy's Inc. (M). During the week, the M climbed 0.13 points, or 0.79%, and closed at 16.56 on Friday, December 13, 2024. Weekly volume was 93% above average.
M is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See M long-term trend chart]
A long-term downtrend had started on March 19, 2024 at 22.10 and reached 14.06 on September 11, 2024. M lost 8.04 points, or 36.38%, in 25 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (16.65). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See M medium-term trend chart]
A medium-term uptrend had started on September 11, 2024 at 14.06 and reached 17.29 on December 9, 2024. M gained -3.23 points, or -22.97%, in 12 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See M weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See M short-term trend chart]
A short-term uptrend had started on November 21, 2024 at 14.51 and reached 17.29 on December 9, 2024. M gained -2.78 points, or -19.16%, in 18 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See M daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since November 21, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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