Myer Share Price Down — Is Now the Time to Sell?

As we suggested in earlier coverage, the Myer share price would struggle to break above resistance around the 75-cent mark. This has subsequently played out and the latest data out of National Australia Bank Ltd [ASX:NAB] points towards further declines.

Why are Myer Shares Falling?

Myer shares have rallied from $1.00 per share to around $1.25 two weeks ago. It appears investors think David Jones’ increased turnover will show up in Myer’s first-half results. Once the results were announced on 17 March, the share price fell back to around $1.11.