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SmarTrend Watching for Potential Rebound in Shares of Macy's After 1.43% Loss
Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Macy's (NYSE:M) traded in a range yesterday that spanned from a low of $38.52 to a high of $39.34. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $38.88 on volume of 5.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Macy's share prices have moved between a 52-week high of $42.17 and a 52-week low of $32.31 and are now trading 19% above that low price at $38.52 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
SmarTrend is tracking the current trend status for Macy's and will alert subscribers who have M in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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