18.10.2016 - We expect the rebound of Macy's price after the correction

Price of Macy's showed a decrease inside the rising channel and in the near future is likely to reach the support level at 34.20. If the price falls below this level, we expect a drop to 32.00 and 30.00. It is worth noting that for continued growth of price is necessary to overcome the resistance at 37.70 and in such a case target levels will be 41,65 and 45,00. We forecast the fall in the near future, but the growth may continue within the channel in the next few months.

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