Corrections Corp (CXW - commentary - Cramer's Take - Rating) price target raised at Jefferies: Jefferies is increasing its target on CXW to $57 from $47 after company reported strong Q3 results driven by solid bed demand and management execution. Reiterated Buy rating.
I am looking at a chart (stockcharts.com) showing CXW's yearly chart with a MACD chart below it. It looks like there has been a MASSIVE negative divergence with CXW since about mid August. A) Is this correct? B) This would be fairly bearish, would it not?