Transforming Network Infrastructure Industry News

TMCNet:  Target (TGT) Approaches New Downside Target of $60.60

[December 12, 2012]

Target (TGT) Approaches New Downside Target of $60.60

Dec 12, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Target (NYSE:TGT) opened today below their pivot of $61.63 and have already reached the first level of support at $61.02. Analysts will be watching for a cross of the next downside pivot targets of $60.60 and $59.57.

Target has overhead space with shares priced $60.71, or 14.8% below the average consensus analyst price target of $71.24. The stock should find resistance at its 50-day moving average (MA) of $63.04, as well as support at its 200-day MA of $60.04.

In the past 52 weeks, shares of Target have traded between a low of $47.25 and a high of $65.80 and are now at $60.71, which is 28% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Target and will alert subscribers who have TGT in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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