Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: Libbyt who wrote (4262)	6/15/2005 3:14:53 PM
From: chowder	Read Replies (1) of 13449

>>> When you have time, would you please look at the chart of TGT? <<< TGT has been in a Stage 2 uptrend and at this time, has the appearance of switching to a Stage 3 consolidation phase. To keep it in a Stage 2 uptrend, it would need to establish a higher high (above $55.10) before establishing a lower low from the last dip (below $53.10). When looking at the MACD indicator, which measures the quality of the trend, it is showing weakness. Other indicators are showing strength. So, when you have conflicting indicators, you look for price support to make your decisions. If you are looking to lock in profits, a drop below $53.00 would confirm a change in trend. This would also be a good spot to short and the next major support level would be $51.00. If looking to buy, a successful test of the 20 day moving average would be a good spot or waiting for price to break out above $55.10 on strong volume. stockcharts.com[h,a]daclyiay[db][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G dabum

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