Quick Win By The Algorithm: Macy’s Stock Shines With Strong Start To Holiday Season

Quick Win By The Algorithm

On November 27th, 2017, I Know First issued a bullish 7 day forecast for Macy’s, Inc. (NYSE: M). The forecast showed a signal of 21.52 and a predictability of 0.1. In accordance with the forecast, M’s stock returned 22.45% over this period, solidifying another quick win by the I Know First algorithm.

Macys, Inc., together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women’s, men’s, and children’s apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry. As of August 21, 2017, it operated approximately 700 department stores under the Macys and Bloomingdales brands; 150 specialty stores under the Bloomingdales, The Outlet, Bluemercury, and Macys Backstage brands in the United States, the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com. In addition, it operates as a beauty products and spa retailer.  Macys, Inc. was founded in 1830 and is based in Cincinnati, Ohio.

Stock Ranking

Holiday Season Starts Strong

Macy’s stock had a strong run-up after the Black Friday weekend.  Analysts covering the company had projected a strong showing due to the revamped online shopping platform for Black Friday weekend as well as Cyber Monday.  According to most forecasters, holiday shoppers were on track to spend more than in previous shopping seasons.

A few days after Black Friday weekend, Macy’s announced that they would hire 7,000 temporary workers to handle customers during the holiday season.  What this means is the demand Macy’s is seeing was above their initial estimates which is obviously great news.   Analysts have called this holiday quarter a must win for Macy’s as the retailer has shuttered stores and tightened inventory in an effort to fight back against online competition.  So far, it appears that Macy’s has risen to the occasion and their stock has been rewarded commensurately.

Current I Know First subscribers received this bullish M forecast on November 27th, 2017


Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.