$M Macy’s Inc Stock Robo Analyst January 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 implies it is in a negative trend. However, the stock has broken up through an important long-term resistance level at 16.98 suggesting the long-term down trend could be turning neutral. If this new level of support at 17.01 holds, look for a move higher to the next resistance level at 22.71.

The stock has support at 17.01 and 16.12. If the stock breaks down through support at 17.01 then it will probably continue lower to 16.12. The stock has resistance at 19.01 and at 22.71. If the stock breaks up through resistance at 19.01 then it will probably continue higher to 22.71. The 200-day moving average is at 19.01. This will also act as resistance. The stock is extremely overbought according to the Stochastic Indicator (85.78).”