Thursday, May 18, 2006

Sears Holdings

Here is a daily chart of Sears Holdings. I last commented on SHLD here.

Since the start of 2006 SHLD has been performing much more bullishly than the market has a whole. This pattern has continued during the recent break in the averages. As you can see SHLD today has reached the highest point of the move up from the 111.64 low and has hit my interim target of 154.

Since it is still outperforming the averages I think SHLD will go higher. My target now is the 1 and 5/8 multiple of the 111.64 low which stands near the 181 level. Meantime support should be found at 148.

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