3SOF

Macy's, Inc. (NYSE:M) is one department store that was looking a little better than the rest, but is also in danger of breaking down. The company was drifting down in a channel after hitting rally highs in late April and recently cleared the channel in July. It has managed to hold above its 50-day moving average for a few weeks and is still well above its July lows. However, it is also testing a trendline it has been following as it moves higher and this trendline also coincides with its 50 and 200-day moving averages. If M closes below this area near $19 it would imply that a retest of the July lows would be forthcoming. The level to watch above would be $21, as a move above this level would set a new pivot high.

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Macy's, Inc.
7 West Seventh Street
Cincinnati, OH 45202
United States - Map
Phone: 513-579-7000
Fax: 513-579-7555
Website: http://www.macysinc.com

Details   
Index Membership: S&P 500
S&P 1500 Super Comp
Sector: Services
Industry: Department Stores
Full Time Employees: 161,000


Business Summary   
Macy’s, Inc., together with it subsidiaries, operates department stores and Internet Websites in the United States. The company’s retail stores and Websites sell a range of merchandise, including men’s, women’s, and children’s apparel; and accessories, cosmetics, home furnishings, and other consumer goods. As of January 30, 2010, it operated 850 stores in 45 states, the District of Columbia, Guam, and Puerto Rico under the names Macy’s and Bloomingdale’s, as well as Websites under macys.com and bloomingdales.com names. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. Macy’s, Inc. was founded in 1820 and is based in Cincinnati, Ohio.


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