CBS Corp. (CBS) is the Stock of the Day at Real Money here on Tuesday after the media company released third-quarter results that beat the consensus on earnings but missed on revenue. Let's dive into the charts and indicators to see if the recent price low will be retested or could mark the beginning of a short-term markup phase.
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These names are displaying both quantitative and technical deterioration.
The main problem with price targets is that they are a static number in a dynamic situation.
Concerns about the action being overheated remain, but rotational action keeps the momentum going.
Short and sweet: This is based on the high running emotions of the markets. There's little to it beyond that.