Macy's Inc. (M)
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|It was the negative week for the Macy's Inc. (M). During the week, the M dropped -0.45 points, or -3.04%, and closed at 14.34 on Friday, May 26, 2023. Weekly volume was 52% above average. |
M is a member of Department Stores Industry. Department Stores is the third most oversold industry. 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 uptrend had started on April 1, 2020 at 4.38 and reached 37.95 on November 18, 2021. M gained -33.57 points, or -766.44%, in 85 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (17.98) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. M may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See M medium-term trend chart]
A medium-term downtrend had started on February 3, 2023 at 25.12 and reached 14.03 on May 25, 2023. M lost 11.09 points, or 44.15%, in 15 weeks. Price is near the trend low.
Weekly Technical Indicators: [See M weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. Weekly Relative Strength Index has bullish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 3, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See M short-term trend chart]
A short-term downtrend had started on May 18, 2023 at 15.90 and reached 14.03 on May 25, 2023. M lost 1.87 points, or 11.76%, in 7 days. The price is now at the 16.58% retracement level.
Daily Technical Indicators: [See M daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.
The daily MACD line is above its signal line since May 12, 2023. The distance between MACD and the signal line is low and getting smaller.
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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands (13.39%) is close to one year low (12.49%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Candlestick pattern: [See M candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.