Macys Inc(M) is in an downtrend but momentum is showing some life

(28-Mar-2008) (28-Mar-2008) Macys Inc(M) closed at 23.36, down -0.81 or -3.35 % today. Based on our analysis, Macys Inc(M) is in an downtrend but momentum is showing some life.

The closing price of Macys Inc(M) is below its 50 day moving average of 24.61 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Macys Inc(M) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 20-Mar-2008, about 6 trading days ago.