Tuesday, December 12, 2006

Selected retail names (KSS, TGT, TJX, AEOS, YUM) technically suggest lower prices


















Selected retail names, longer-term, appear toppy and could head lower breaking key technical support levels.


Kohl's (KSS) appears to be headed toward a key technical support level (see horizontal line) displaying a classic "head and shoulders" pattern.


TJX Cos. (TJX): Broke from its late Nov. '06 highs and has since formed a bear flag pattern, today breaking lower to re-test support at $26.50 area.
American Eagle (AEOS): Early stage toppy pattern and could test its $44 support area.

Yum Brands (YUM): Currently racked by bad fundamental news, is testing the $58.50 area.

Other retail names that have displayed downward price action : ANN, ANF, WMT, FD, BBY