Charting the Retailers

Macy's (M) surprised the Street this morning, lowering guidance as net sales came in below estimates. This stock has been one of the best performers in the retail sector, and traded close to its all-time high earlier this week. How does today's selloff affect the long-term outlook for this stock?

Macy's (M) Source: TradeStation View Chart » View in New Window »

Macy's remains above its 200-day moving average (red), which currently stands at $55.62. Over the past four years, buying this stock at or near its 200-day moving average has been a winning strategy, resulting in seven bounces (arrows). Today's move puts the price in close proximity to that level for an eighth time, and I expect buyers to step in once again....328 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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