TGT Analysis for 11.10.2007

TARGET - TGT

Monthly chart shows a possible three wave abc corrective wave pattern into the $70.75 high in July 2007. The last move up from $25.00 support has 5 waves. IF we have 5 waves up, THEN look for an abc corrective wave pattern to retrace the last leg up. First downside target is $45 area.

Weekly chart shows a corrective retracement wave up to test the highs where sellers came out in force and started the current move down.

Daily chart better shows the corrective wave pattern into the .786 fib resistance area. Friday saw sellers in a rush to get out of the stock gap down the price at the open.