Sunday, November 04, 2007

M Analysis for 11.04.2007

MACYS INC - M

Monthly chart shows that the uptrend line in place has been broken. Current price is below all key moving averages and is in a consolidating range.

Weekly chart shows price below all its key moving averages, with resistance currently at the .382 fib level and key s/r and LIS at the $36 level.

Daily chart shows price below all key moving averages. Lower high made, so expect a test of the lows at the $28.50 and lower.

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