M pushes through prior session high
Macy's Inc (M) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (M as at May 17, 2018):
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.