Macy's Inc Stock Forecast
Macy's Inc stock price ended at $19.04 on Thursday, after gaining 0.158%.
(Updated on Apr 18, 2024)
The Macy's Inc stock price gained 0.158% on the last trading day (Thursday, 18th Apr 2024), rising from $19.01 to $19.04. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.70% from a day low at $18.87 to a day high of $19.19. The price has risen in 7 of the last 10 days and is up by 3.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $106.95 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.67% during the next 3 months and, with a 90% probability hold a price between $19.41 and $23.47 at the end of this 3-month period.
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M Signals & Forecast
There are mixed signals in the stock today. The Macy's Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $19.34 and $19.87. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 3.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Macy's Inc stock
Macy's Inc finds support from accumulated volume at $18.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.320 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 3.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (M) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Macy's Inc to open at $19.03, and during the day (based on 14 day Average True Range), to move between $18.36 and $19.72, which gives a possible trading interval of +/-$0.682 (+/-3.58%) up or down from last closing price. If Macy's Inc takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.41 (3.31%) than the resistance at $19.95 (4.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Macy's Inc stock A Buy?
Macy's Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.613 Sell Candidate Unchanged
Predicted Opening Price for Macy's Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $19.03 ( 0.0350%) | $19.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for M
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.35 | 1.65 % | |
| R2 | 19.23 | 1.00 % | ||
| R1 | 19.16 | 0.607 % | ||
| Current price: | 19.04 | |||
| Support | S1 | 18.91 | -0.677 % | |
| S2 | 18.84 | -1.07 % | ||
| S3 | 18.71 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.15 | 11.08 % | |
| R2 | 20.45 | 7.41 % | ||
| R1 | 19.95 | 4.78 % | ||
| Current price | 19.04 | |||
| Support | S1 | 18.41 | -3.31% | |
| S2 | 18.26 | -4.10% | ||
| S3 | 17.44 | -8.40% |
M Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.174 | 0.89% |
| 2 | Oct 27, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.170 | 0.86% |
| 3 | Aug 25, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.170 | 1.47% |
| 4 | May 31, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.165 | 1.00% |
| 5 | Feb 24, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.165 | 0.88% |
FAQ
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