Target Corporation(TGT) is in an downtrend but momentum is showing some life

(29-Jan-2008) (29-Jan-2008) Target Corporation(TGT) closed at 52.8, down -0.67 or -1.25 % today. Based on our analysis, Target Corporation(TGT) is in an downtrend but momentum is showing some life.

The closing price of Target Corporation(TGT) is below its 50 day moving average of 53.03 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Target Corporation(TGT) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 9-Jan-2008, about 15 trading days ago.