Macy's Dim Future

Brick and mortar retail has been punished by online shopping advances.

M has seen significant erosion since 2015 ATH.

Now seeing rejection on monthly chart by the 100 & 200 EMA, testing 50 EMA in coming months.

Now, in the face of economic slowdown it's increasingly likely that the retail giant will realize further losses given declining consumer sentiment and rapidly increasing prices.

Contracting labor, continued retail shift, inflation... M will likely revisit $5 price level this year.