Target Still Missing the Mark

Target (TGT) has a set of bearish charts that are targeting still lower prices in the weeks ahead. This should not be a big surprise to regular readers of Real Money and Kamich's Korner. Back in January we covered Target and saw the weakness. Our updated charts are still bearish, unfortunately.

In the daily chart of TGT, below, we can see that TGT tried to stabilize and improve a bit in February but bullish hopes were dashed with another big gap to the downside. Notice the heavy volume as investors sold heavily? The 50-day and 200-day moving averages remain in a downtrend. The On-Balance-Volume (OBV) line broke to a new low for the move down this month and there is no bullish divergence between the price action and momentum....109 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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