Stocks To Watch Wednesday: Apple And Target Corporation

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Stocks To Watch Wednesday: Apple And Target Corporation

By Antonio Costa on April 22, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

Target (TGT) -The stock has failed to break out of its trading range, between resistance at $40.85 and support at $38. MACD’s fresh downward cross indicates that TGT’s correction has just begun. An initial target might be its 20-day moving average at $36.66.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Apple (AAPL) fell sharply on Monday but found support at the uptrend line near $119 and closed at $120.50. On Tuesday the stock recovered some of its losses, closing up $1.26 to 121.76. Looking at the technical chart the stock continues to remain neutral to bullish, but RSI and MACD are both showing bearish divergences to the price, and MACD has made the first bearish crossover. These indicators could be signalling we may have seen the highs on the stock. Stay tuned on Apple.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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