May 10, 2013 (Moving average crossovers via COMTEX) -- Target (NYSE:TGT) shares have crossed bearishly below their 10-day moving average of $70.26 on a volume of 2.1 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.In the past 52 weeks, shares of Target have traded between a low of $54.68 and a high of $70.99 and are now at $69.40, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

Target Corporation operates general merchandise discount stores in the United States. The Company's merchandising operations include general merchandise and food discount stores and a fully integrated online business. Target also offers credit to qualified applicants through its branded proprietary credit cards.

Potential upside of 2.6% exists for Target, based on a current level of $69.40 and analysts' average consensus price target of $71.22. The stock should discover initial support at its 50-day moving average (MA) of $68.40 and subsequent support at its 200-day MA of $63.93.

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