Macy’s Stock Chart Analysis: Double Top

Shares of Macy’s, Inc (M) are jumping higher by over 11% on the day. The retail stock likely has a major double top in its sights at $22.25.

Based on Macy’s stock chart analysis, this would be the swing trade short level to take as a classic double top resistance level. Even post-pandemic, Macy’s will struggle to survive and could be back to a single-digit stock within months. Small share size is recommended based on the risk of a short squeeze.

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