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Advanced TA SearchArchive
- 5/10/2024 -
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Macy's Inc. (M) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Macy's Inc. (M). During the week, the M gave back -0.17 points, or -0.87%, and closed at 19.35 on Friday, May 10, 2024. Weekly volume was -71% below average.
M is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold 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 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 (8.05) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. M may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.
 Medium-term trend: [See M medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 10.54 and reached 22.10 on March 19, 2024. M gained -11.56 points, or -109.68%, in 22 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (20.60) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See M weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low and getting smaller. 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 May 1, 2024 at 18.02 and reached 19.89 on May 7, 2024. M gained -1.87 points, or -10.38%, in 6 days. The price is now at the 28.88% retracement level.
 Daily Technical Indicators: [See M daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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 Williams' Percentage Range help.
The daily MACD line is above its signal line since May 2, 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 8.48% on Friday. It is 56.96% 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.
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