TGT
TGT Potential BreakoutTGT is testing its highs with an inverse head and shoulders and ascending triangle. WIth a break out confirmed on a close, the top of the ascending channel it is in, the measured move of the ascending triangle, and fib extensions all together give profit taking areas as well as reasonable stops. TGT does not report earnings until August 11th. Unfortunately, this trade setup gets no help from the oscillators.
Double Bottom and Bullish Divergence on TGTAs you can see, the price action is contained within a descending broadening wedge at the moment, which has appeared to have found a double bottom, with Class A Bullish Divergence on the MACD and Class B Bullish Divergence on the RSI. From my entry point at $92.84, if the trade reaches the 382 fib retracement, that would be a 9.23% gain. If it reaches Dow's 50% retracement, then it will be 12.83%, and if it goes so high as to reach the top of the descending broadening wedge where it will run into the 618 Golden Zone as well as the 200 and 50 day moving averages as resistance, I will see a profit of 16.44%.
It's worth noting that bullish divergence is not as reliable in a bear trend.
None of this is financial advice, and I am not employed or affiliated with Apollo Trading in any way. I am, however, interested in hearing critiques and criticisms of this idea.
TGT BUY OR LONG , TARGET UP TO $150 TGT will confirm the triangle pattern at $125, the triangle pattern for the target to $135 but the resistance is at $130
and if it breaks past the old peak of $130, TGT will have a chance to touch $150.
- Price is above support 1d (MA200)
- MACD supports the new rising trend
- Volume is awaiting confirmation
=> Offer to buy in two zones ($125 + $131) at a rate of 50% + 50% <=> ($125 +$131) = price average $128
=> Stop loss : 10%
=> Target $150
Wish you good deals!
TGTTGT has been forming a nice consolidation lately with a strong resistance area from around 122.80 to 123.60. Looking for a continuation of the strong bullish day yesterday after today's panic sell brought it down. Note the 20SMA looking ready to cross up the 50MA, which can help push it past the resistance area and possibly make a run to 126.
$TGT RUN! ($WMT $COST )see full chart at www.tradingview.com
TGT
Entry $117.84
Target $122
stoploss $116
Why this play?
TGT had an amazing ER last quarter and a strong forecast ahead. They are a strong company with an amazing website, easy to order and trendy.
this company performed really well during Corona and i wouldn't be surprise to see them hit ATH again.
Target Q1 Comparable Sales Grew 10.8%, Digital Comparable Sales Grew 141%
First quarter comparable sales grew 10.8 percent, driven by a 12.5 percent increase in average basket, as guests made fewer, bigger shopping trips.
Store comparable sales increased 0.9 percent. Digital comparable sales grew 141 percent, accounting for 9.9 percentage points of Target's comparable sales growth.
Digital comparable sales accelerated every month in the quarter, from 33 percent in February to 282 percent in April.
Stores fulfilled nearly 80 percent of Target's first-quarter digital sales.
Same-day services (Order Pick Up, Drive Up and Shipt) grew 278 percent and accounted for approximately 5 percentage points of total Company comparable sales growth.
What is TGT
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home decor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Cafe, Target Optical, Starbucks, and other food service offerings. It sells its products through its stores; and digital channels, including Target.com.
GoNoGo suggests Target is oversoldIs Target oversold? GoNoGo Trend is a “Go” but in all trends there are counter trend corrections. The red arrow above the last bar shows that the GoNoGo Oscillator was at an extreme and suggests that Target may move lower over the next few bars.
If this happens look for the GoNoGo Oscillator to bounce off zero and a green circle for a possible entry into the trend.
THE WEEK AHEAD: PDD, BIDU, TGT, NVDA, LOW EARNINGSEARNINGS:
PDD (72/92): Friday, before market open.
BIDU (81/61): Monday, before market open.
TGT (55/49): Wednesday, after market close.
NVDA (51/62): Thursday, before market open.
LOW (51/63): Wednesday, after market close.
Both PDD and BIDU are ADR's, so look to put on plays post-announcement to catch earnings afterglow, if at all. The dates of their announcements tend to be "soft," meaning they're subject to change, and there's nothing more disconcerting than putting on a volatility contraction play, only to have earnings not occur when they're initially supposed to.
Pictured here is an NVDA short strangle in the June cycle with break evens wide of one standard deviation. Off hours, it's pricing out at 10.35, but markets are wide. Because it's rather large, consider going iron condor, looking to collect at least one third the width of the wings in credit (e.g., the June 19th 275/280/405/410, paying 1.73 at the mid price).
SECTOR EXCHANGE-TRADED FUNDS, ORDERED BY RANK AND SCREENED FOR >30-DAY IMPLIED:
SLV (57/41)
EWW (56/46)
GDXJ (51/61)
SMH (49/49)
GDX (44/51)
XLE (44/52)
EWZ (44/60)
EEM (44/60)
XLU (42/31)
XOP (34/67)
USO (13/78)
BROAD MARKET, ORDERED BY RANK:
IWM (60/47)
TQQQ (53/99)
EEM (43/34)
QQQ (36/32)
SPY (33/31)
IRA DIVIDEND-PAYERS ORDERED BY RANK:
IYR (61/44)
EWA (49/42)
EWZ (44/60)
EEM (43/34)
XLU (42/31)
EFA (38/28)
HYG (34/19)
SPY (33/31)
EMB (27/22)
TLT (24/20)
With acquisitional plays for a retirement account, it's not necessarily "all about the premium"; it's partly about price, so it will pay to look at a few charts to determine which of these are trading at a discount relative to where they've been. That being said, having a higher background implied is of benefit, since it will result in a lower break even relative to strike price than were implied not as high and getting in lower is always better in the retirement account. For instance, I'm not in "acquisition mode" for TLT, not only because of its low implied, but because it's at or near all-time highs, moves inversely to yield, and doesn't necessarily have all that much room to move higher given the current interest rate environment. Conversely, EMB and HYG implied aren't all that great (treasury and/or bond funds are not known for having high volatility, generally), but both got absolutely crushed in the mid-March closely correlated sell-off, so I could see selling out-of-the-money puts in those instruments, assuming they were at levels I'd be comfortable with acquiring. (See HYG, EMB Posts Below).
Granted, these are large ticket items and not everyone is going to be able to go out there and sell a three-rung, SPY 16 delta short put ladder; the price tag is hefty. However, implied metrics can be informational for even those with smaller accounts. At the very least, these metrics are saying: "Look at me. I'm moving", and -- in the vast majority of cases -- they say, I've moved lower and that this may be the time to pick up some shares, even if they're fractional. Over time, fractional shares aggregate into one lots that you can proceed to cover and reduce cost basis more efficiently, as well as generate cash flow on top of dividends.
Buy TargetTarget Corporation (NYSE: TGT)
Target Corporation is a well known discount store that been around over 100 and went public around 1967.
JesusTrade Score:
Buy
Scale Score
Risky (7/10)
Portfolio Hold:
Monthly Swing
Fundamental Reasoning:
With earning around the corner, their numbers need to be payed attention (up the trade score due to earning being need). Year over year, store sales are up 20% and online sales up 200% April 2019 compare to April 2020, Target store sales are up 5% and Online sales up 4%. With rumor of recession around the corner and COVID-19 still active. This should be a good pick up.