Target showed me all the ways to make money today. I took a small scale in a few days ago anticipating a good response to holiday earnings after they had a relatively lukewarm rebound from the late 2018 correction. Seeing the traffic at my own local Target, I was certain they would exceed expectations and they lived up to my hopes and more. After hours trading today was slightly down, but I expect this as some long term HODL'ers are finally realizing some profit, so there will be probably be more attention and buying for this household brand. I'll scale in and gradually ease my stops up to retain made profits at it rises. The profit taking found plenty of willing buyers, though, with the chart showing a black hammer doji that's a mild bullish signal with breakout confirmation needed in the coming days.
For technicals, a MACD has been positive but flat for some time with the histogram only now breaking out bullish. ADX is low but pulling upward suggesting a coming upward price trend with DI+ above DI- for a few weeks and diverging strongly with DI- crossing below ADX as a potential buy signal. RSI is breaking above 60 but still below 75 so there's still time to hop on board if this only going to be a short lived price trend, but this shows signs of a contrarian pull back upward from the trough of the recent market wide corrections.
This is likely to run up to 80 before really hitting it's first major resistance level and onward to 88 if it can sustain upward momentum long term. Expect a stair stepping pattern upward as well as watch close competitors like KSS and WMT and GPS and others to gauge sector and industry correlation.
For technicals, a MACD has been positive but flat for some time with the histogram only now breaking out bullish. ADX is low but pulling upward suggesting a coming upward price trend with DI+ above DI- for a few weeks and diverging strongly with DI- crossing below ADX as a potential buy signal. RSI is breaking above 60 but still below 75 so there's still time to hop on board if this only going to be a short lived price trend, but this shows signs of a contrarian pull back upward from the trough of the recent market wide corrections.
This is likely to run up to 80 before really hitting it's first major resistance level and onward to 88 if it can sustain upward momentum long term. Expect a stair stepping pattern upward as well as watch close competitors like KSS and WMT and GPS and others to gauge sector and industry correlation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.