25.04.2016 - Macy's shares are likely to continue to decline

Price of Macy's after broke the lower boundary of the rising local channel, has been able to gain a foothold below the level of 41.65, which is the basis for the continuation of negative dynamics of price with immediate objectives at 37.70 and 34.20. On the other hand, in case of breaking the resistance level at 41.65, growth of stocks may continue until 45.00. Our medium-term outlook is negative and we expect a further decline in the near future.

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