The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 2/16/2024 -
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Macy's Inc. (M) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are overboughtMACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :The period of low volatility of the stock price
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It was a second consecutive positive week for the Macy's Inc. (M). During the week, the M gained 0.38 points, or 1.99%, and closed at 19.46 on Friday, February 16, 2024. Weekly volume was -48% below average.

Long-term trend: [See M long-term trend chart]
A long-term downtrend had started on November 18, 2021 at 37.95 and reached 10.54 on October 13, 2023. M lost 27.41 points, or 72.23%, in 99 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (9.05) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.

Medium-term trend: [See M medium-term trend chart]
A medium-term downtrend had started on December 11, 2023 at 21.24 and reached 17.14 on January 19, 2024. M lost 4.10 points, or 19.30%, in 5 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (19.14) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See M weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish 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 Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 27, 2023. 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 January 19, 2024 at 17.14 and reached 19.81 on February 15, 2024. M gained -2.67 points, or -15.58%, in 27 days. The price is now at the 13.11% retracement level.

Daily Technical Indicators: [See M daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

The distance between the Bollinger Bands is falling, and it was 9.25% on Friday. It is 56.85% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.56
Williams' Percentage Range (W%R) 25.30
Lane's Stochastic (%D-Slow) 78.31
Greed/Fear Indicator (GFI) 70.84
Moving Average Converg./Diverg. (MACD) 0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.30
Overbought
Williams' Percentage Range (W%R) 18.40
Overbought
Lane's Stochastic (%D-Slow) 61.37
Greed/Fear Indicator (GFI) 67.71
Moving Average Converg./Diverg. (MACD) 0.74 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 19.82
Price 19.46
Daily Stochastic Crossing 19.45
Monthly Trendline Support 19.14
Weekly Stochastic Crossing 19.07
50 Day Moving Average 18.97
20 Day Moving Average 18.78
Parabolic System 18.55
Monthly Trendline Resistance 18.06
Lower Bollinger Band 18.02
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Department Stores 79
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 18.04
Low Date 02/01/2024
High 19.81
High Date 02/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.14
Low Date 01/19/2024
High 19.81
High Date 02/15/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 18.06
Support 19.14
High 21.24
High Date 12/11/2023
Low 17.14
Low Date 01/19/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 10.54
Low Date 10/13/2023
High 21.24
High Date 12/11/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 14.11
Support 9.05
High 37.95
High Date 11/18/2021
Low 10.54
Low Date 10/13/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.