In-Depth Technical Analysis of MACY'S INC.

MACY'S INC (NYSE:M) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:M.

In-Depth Technical Analysis of NYSE:M

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, M scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, M is only an average performer.

• The long and short term trends are both positive. This is looking good!
• M is part of the Broadline Retail industry. There are 34 other stocks in this industry. M outperforms 81% of them.
• In the last month M has a been trading in the 15.47 - 21.24 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that M is one of the better performing stocks in the market, outperforming 89% of all stocks. However, this relatively good performance is mostly due to a recent big move.
• M is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so M is lagging the market.

Check the latest full technical report of M for a complete technical analysis.

How do we evaluate the setup for NYSE:M?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:M is 8:

M has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 20.34, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for M in the last couple of days, which is a good sign.

Trading setups like NYSE:M

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.