Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
The retail sector has more lives than a cat. The great American consumer cannot be underestimated. Folks find money to spend even if it means stealing change from Grandma Edna's pocketbook. The chart favors the rising wedge patterns. RTH is a very attractive short right now. The daily chart is negatively diverged as well. There is some momo in the RSI and MACD but this can burn out in a few days or a week or so. TGT jumped 4% yesterday simply on an analysts upgrade. Even with the recent negative WMT news and the company flat out stating that sales are weak in February, WMT jumps over 2% higher yesterday. Projection is for RTH to top now or in the coming days with an initial downside target under 45, then 42. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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