$M Macy’s Inc Stock Robo Analyst June 8 2020 #M

Macy’s Inc (M) “On a long-term technical basis, the stock (M) is trading below its 200-day moving average which generally implies it is in a negative trend. However, the stock has broken up through an important long-term fibonacci resistance level at 8.69 suggesting the long-term down trend could be turning neutral. If this new level of support at 8.69 holds, look for a move higher to the next resistance level at 12.72.

The stock has support at 8.69 and 7.18. If the stock breaks down through support at 8.69 then it will probably continue lower to 7.18. The stock has resistance at 11.50 and at 12.72. If the stock breaks up through resistance at 11.50 then it will probably continue higher to 12.72. The 200-day moving average is at 12.72. This will also act as resistance. The stock is extremely overbought according to the Stochastic Indicator (79.24).”