Macy’s Chart Is Crystal Clear. Here’s the Trade After the Report.

Macy’s (m) stocks are up about 6% as investors cheer the retail fan’s quarterly results.

The stock had fallen hard from its fourth-quarter high entering 2022, then held up quite well through the first four months of the year.

During that period, Macy’s typically chopped between $22.50 and $27.50, without gaining traction either way. Shares then broke down in May and have struggled to bounce back ever since.

Investors hope today’s report can help the stock regain enough momentum to at least get it back in that range.

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