Macy’s shares rebound on Wednesday, company appoints Jill Ramsey as Chief Product and Digital Revenue Officer

According to a statement by Macy’s Inc (M) on Wednesday, the department store operator has appointed Jill Ramsey as new Chief Product and Digital Revenue Officer. The appointment will take effect on January 8th.

Macy’s shares closed higher for the sixth time in the past ten trading sessions on Wednesday. The stock edged up 0.32% ($0.08) to $25.33, with the intraday high and the intraday low being at $25.62 and $25.16 respectively.

In the week ended on December 17th the shares of the department store chain lost 4.69% of their market value compared to a week ago, which marked the first drop out of six weeks.

The stock has extended its advance to 6.43% so far during the current month, following a 26.87% surge in November. The latter has been the best monthly performance since April 2009.

For the entire past year, the shares of Macy’s Inc went up 2.37%. However, the stock has retreated 29.27% so far in 2017.

Jill Ramsey is to oversee product and revenue for macys.com and the Macy’s app, the company said.

The specific responsibilities of the role she is to assume will include digital revenue, the enterprise portfolio and enterprise product management, digital merchandise management, site production, as well as user experience.

With more than 20 years of experience in product and digital team leadership, Jill Ramsey has previously worked with eBay and Wal-Mart.

According to CNN Money, the 18 analysts, offering 12-month forecasts regarding Macy’s Inc’s stock price, have a median target of $22.00, with a high estimate of $36.00 and a low estimate of $16.00. The median estimate is a 13.15% decrease compared to the closing price of $25.33 on December 20th.

The same media also reported that 13 out of 21 surveyed investment analysts had rated Macy’s Inc’s stock as “Hold”, while 4 – as “Buy”. On the other hand, 2 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Macy’s stock are presented as follows:

R1 – $25.37
R2 – $25.41
R3 (Range Resistance – Sell) – $25.46
R4 (Long Breakout) – $25.58
R5 (Breakout Target 1) – $25.73
R6 (Breakout Target 2) – $25.79

S1 – $25.29
S2 – $25.25
S3 (Range Support – Buy) – $25.20
S4 (Short Breakout) – $25.08
S5 (Breakout Target 1) – $24.93
S6 (Breakout Target 2) – $24.87

By using the traditional method of calculation, the weekly levels of importance for Macy’s Inc (M) are presented as follows:

Central Pivot Point – $25.13
R1 – $25.82
R2 – $27.05
R3 – $27.74
R4 – $28.43

S1 – $23.90
S2 – $23.21
S3 – $21.98
S4 – $20.75