M pushes through prior session high


Macy's Inc. (M) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
M closes higher for the 3rd day in a row
M pushes through previous session high
M rises to highest close since January 4, 2017
M ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, M finished Thursday at 33.84 gaining $0.67 (2.02%) on high volume. Today's closing price of 33.84 marks the highest close since January 4, 2017. Closing above Wednesday's high at 33.40, Macy's Inc. confirms its breakout through the prior session's high having traded $1.47 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for M
Volatility

Thursday's trading range was $1.97 (5.92%), that's far above last trading month's daily average range of $1.13. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Macy's Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

M pushes through prior session high

Aug 17, 2018
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