Macy's Inc. | M

Daily Technical Analysis of Macy's Inc.

Macy's is up a bit on the day, funds flowing in kept the price up 2.49% since yesterday. It looks like M may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. In addition to being near an angled support line M is near a moderate strength horizontal support line. This represents a potential pivot point where the price might find support and move upward. But it can also break through this line in which case there might be a burst of selling on the other side. Macy's hasn't been that impressive in terms of its 3 month momentum, we'll see if it can turn things around and start heading up or continue its slide down.

If the price bounces off of the support and moves up it'll probably head up to the $14.27 level, at which point it may hit some selling pressure. If it punches through this support level, it can easily push down to $11.63 where it may meet further support, hopefully it can consolidate around that point.

Analyst Ratings for Macy's By Price Target And Rating

The analysts are pretty neutral on Macy's right now, so not much useful information here. The current Analysts Sentiment Score is 0.49. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. Telsey Advisory Group reiterated a rating of Market Perform on 2024-03-28 and provided a price target of $21.00. JPMorgan Chase & Co. provided a price target boost of 8.7% to $25.00 from $23.00 on 2024-03-18. TD Cowen downgraded from Outperform to Market Perform on 2024-02-29 and decided to decrease their price target by -13.04% down to $20.00. On 2024-02-28 The Goldman Sachs Group increased their price target by 37.5% to $22.00. Morgan Stanley announced a lowering of their price target to $20.00 from $21.00 on 2024-02-28. Citigroup upgraded from Sell to Neutral on 2024-02-02 and also increased their price target by 28.57% to $18.00. On 2023-11-07 Evercore ISI started covering Macy's with a rating of Inline and provided a price target of $13.00. On 2023-09-27 Gordon Haskett downgraded Macy's from Buy to Hold and provided a price target of $13.00. Bank of America announced a lowering of their price target to $12.00 from $13.00 on 2023-08-23. On 2023-08-23 UBS Group lowered their price target by -16.67% to $10.00.

Earnings Per Share (EPS) Estimates By Year and Quarter

Short interest for Macy's

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Social Sentiment for Macy's

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.