Market: ($AMZN, $BBY, $WMT, $TGT)
Chart of the Day
Retail stores and online retailers are gearing up for Black Friday – the largest shopping day of the year and the traditional start to the holiday shopping season. In this chart, retail giants such as Amazon, Best Buy, Wal-Mart, and Target have been plotted in multiple chart panels for easy price comparison and analysis. Also shown on this chart are Volume Zones for each of these markets, which may give traders a look into the strength of each stock at given levels. Although investors have been cautious with recent news regarding the Fiscal Cliff, sales this weekend could provide a boost for these retailers. Another factor to consider is that sales may fall short of the expectations in the current economic climate that has been a result of forecasted tax increases. It will be interesting to see how these markets finish out the day with expected sales and how they react next week to Black Friday sales figures.
