Macy’s Climbs Nearly 6%, Eyes $24 52-Week High

$Macy's(M)$

Macy's (M) Jumps +5.84%: Rebound from Oversold, Eyes $22 Resistance

Latest Close Data

Macy's closed at $21.19 on Feb-02, surging +5.84% from the previous day. The stock is now ~13% below its 52-week high of $24.41.

Core Market Drivers

A significant intraday rally pushed the stock to a high of $21.23, fueled by a broad market uptick in consumer discretionary stocks.
Recent data shows a notable decline in short interest volume over the past week, potentially easing some selling pressure.

Technical Analysis

Volume surged to 8M shares, with a Volume Ratio of 1.40, confirming strong buying interest.
The RSI(6) rocketed from deeply oversold levels (~22) to 61.85, signaling a sharp momentum shift.
The MACD histogram turned positive (-0.186 vs. -0.399 prior), suggesting bearish momentum is decelerating rapidly.

Key Price Levels

Primary Support: $19.97 (recent swing low).
Immediate Pivot: $21.19 (today's close).
Strong Resistance: $22.17 (recent high). A break above could target $24.41.

Valuation Perspective

The stock trades at a TTM P/E of 12.38 and a P/S of 0.25. The Forward P/E of 9.22 is above its historical average of 6.44 but remains relatively modest for a retail giant.

Analyst Targets

9 analysts have an average price target of $21.76. Sentiment is neutral with 1 Strong Buy, 1 Buy, 9 Hold, and 2 Underperform ratings.

Weekly Outlook

Expect consolidation between $20.30 and $22.20 after the sharp rally. A sustained break above $22.17 could fuel a move toward $24. A failure to hold $20.30 may see a retest of the $19.97 support.

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