Monthly chart shows selling the last 4 months. Support current right at the 8ema. Back end resistance did not offer much support.
Weekly chart shows doji candle formation, indicating slowing down of the selling pressure. Possible 5 waves up into high at $64.74. If we have 5 waves up, then look for abc correction into the .618 fib at $52.35 area.
Daily chart shows price to be trading below all moving averages, except the 200sma, which is currently just a little below current trading price. Stock on watch list for next week.
Saturday, May 12, 2007
TGT Analysis for 05.12.2007
Posted by TraderZ at 5/12/2007 08:11:00 AM
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