Is Buying Stock Like Macy's, Inc. (M) After This Wedge Up a Winning Strategy?

May 16, 2018 - By Jimmy Baldridge

Macy's, Inc. (NYSE:M) Logo

The stock of Macy's, Inc. (M) formed an up wedge with $35.38 target or 7.00 % above today’s $33.07 share price. The 8 months wedge indicates low risk for the $10.12 billion company. If the $35.38 price target is reached, the company will be worth $708.19M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 10.48% or $3.136 during the last trading session, reaching $33.066. About 38.87M shares traded or 293.52% up from the average. Macy's, Inc. (NYSE:M) has declined 0.25% since May 16, 2017 and is downtrending. It has underperformed by 11.80% the S&P500.

Macy's, Inc. (NYSE:M) Ratings Coverage

Among 9 analysts covering Macy’s Inc (NYSE:M), 3 have Buy rating, 1 Sell and 5 Hold. Therefore 33% are positive. Macy’s Inc had 11 analyst reports since December 14, 2017 according to SRatingsIntel. On Tuesday, February 27 the stock rating was maintained by Jefferies with “Hold”. The rating was maintained by Morgan Stanley with “Equal-Weight” on Wednesday, February 28. The stock of Macy's, Inc. (NYSE:M) has “Underweight” rating given on Thursday, May 10 by Morgan Stanley. The rating was maintained by BMO Capital Markets with “Outperform” on Thursday, March 1. Telsey Advisory Group maintained it with “Market Perform” rating and $28 target in Thursday, December 28 report. Guggenheim maintained the shares of M in report on Thursday, December 14 with “Buy” rating. RBC Capital Markets maintained the stock with “Hold” rating in Friday, January 19 report. The stock of Macy's, Inc. (NYSE:M) earned “Buy” rating by Gordon Haskett on Thursday, March 1. The firm has “Hold” rating given on Monday, February 26 by Deutsche Bank.

More notable recent Macy's, Inc. (NYSE:M) news were published by: Seekingalpha.com which released: “Macy’s soars after lifting profit guidance” on May 16, 2018, also Benzinga.com with their article: “Benzinga Pro’s 5 Stocks To Watch Today” published on May 16, 2018, Investorplace.com published: “Profit From the Flash Sale in Macy’s Inc Stock” on May 10, 2018. More interesting news about Macy's, Inc. (NYSE:M) were released by: Seekingalpha.com and their article: “The Stars Are Aligning For Macy’s” published on May 07, 2018 as well as Streetinsider.com‘s news article titled: “Pre-Open Movers 05/16: (BOOT) (ABAX) (M) Higher; (VSTM) (SRAX) (ABR) Lower (more…)” with publication date: May 16, 2018.

MacyÂ’s, Inc., together with its subsidiaries, operates stores, Websites, and mobile applications. The company has market cap of $10.12 billion. The Company’s stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. It has a 6.56 P/E ratio. The firm also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.

Macy's, Inc. (NYSE:M) Institutional Positions Chart

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