Macy's Stock in Spotlight After News of Job Cuts, Store Closings—Key Levels to Monitor

Key TakeawaysThe retailer plans to cut roughly 2,350 jobs and close five stores in an effort to streamline costs and stem slowing sales.Macy's shares broke above a multi-month downtrend line in mid-November, indicating many of the challenges facing the retailer could be already baked into the price.The current retracement in Macy's shares could find support from the 50-day moving average. Macy's, Inc. Source: TradingView.com.Department store retailer Macy’s (M) is in focus after it announced Thursday tha ...