This week’s stock is Macy’s (Ticker: M).

If you are a Chicagoan, like me, you probably cried, like I did, when Marshall Field’s closed.

It was one sad day.

You could buy makeup, purses, designer clothes, china, furniture, rugs, and of course shoes (they had a fantastic shoe salon) all in that State Street store.

They had everything your heart could desire.

It was my all-time favorite.

Now we have Macy’s.

No offense but it just doesn’t even come close to the old Marshall Field’s store.

Macy’s carries good brands and has really good sales but every store I’ve been to is a mess.

I mean truly a mess, clothes strewn all over the floor, not hung up, salespeople are nowhere to be found.

Just not a pleasant shopping experience.

In November of 2021, M was trading at $40.

Last February it was down to $25.

Today M is trading at a mere $11.33.

Sounds like they need to clean up those stores.

Let’s take a look at the most recent chart:

Not a pretty picture.

However, M is sitting on my median line and could possibly bounce higher from here.

Watch for a change in trend candle, which today’s could turn out to be a doji.

If it does decide to bounce, the next resistance level comes in at $12.50 then $14.

If M does not bounce from here … look out below.

The next support level comes in at $10 and then $7.50.

Keep your eye on this one.

Thanks for Reading … See You Next Tuesday,

Licia Leslie