Home Sectors Consumer This Traditional Retailer Has Pulled Back Following a Sharp Rally: Technical Analysis

This Traditional Retailer Has Pulled Back Following a Sharp Rally: Technical Analysis

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April 14, 2021

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Macy’s has screamed higher since November, and now may be offering the bulls another entry.

The first major pattern on the retailer’s chart is the upward sloping trending running from the mid-December lows. The bears tried to break it last week but apparently threw in the towel.

Next is the rising 50-day simple moving average, which M has also held…

For more, please click here to view the related idea and chart analysis on TradingView.

Macy’s (M), daily chart, with key patterns, courtesy of TradingView.

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