Macy's Stock in Focus After Rejecting $5.8 Billion Takeover Offer—Key Chart Levels to Monitor

Key TakeawaysMacy's board has rejected a $5.8 billion takeover offer, citing concerns over financing and valuation.Arkhouse Management and Brigade Capital had proposed to take the company private by acquiring the retailer's stock for$21 per share.Macy's share price may find support at the key 38.2% and 50% Fibonacci levels. Macy's, Inc.  Source: TradingView.com.Legacy department store Macy’s (M) remains in focus Monday morning after the retailer said that it has turned down a $5.8 billion takeover offer ...