Watch These Macy’s Price Levels as Stock Slumps on Soft Sales Guidance
Key Takeaways
- Macy’s shares could remain in focus on Tuesday after the struggling department store said holiday quarter sales may be slightly below expectations due to underperforming stores.
- Selling in the stock has intensified after it ran into resistance near the the upper trendline of a descending channel and the 200-day moving average.
- Investors should watch important support levels on Macy’s chart around $13 and $10.75, while also observing key resistance levels near $18 and $20.50.
Macy’s (M) shares could in remain in focus on Tuesday after the struggling department store said yesterday that it sees holiday quarter sales coming in slightly below its earlier expectations, weighed down by underperforming stores.
In February…
