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TARGET CORP DRNTARGET CORP DRNTARGET CORP DRN

TARGET CORP DRN

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TGTB34 trade ideas

$TGT- Target Corp - (Earnings Sell off & Wedge Example)3/2/21 $TGT- Target Corp - 6.771% Decliner Catalysts: 1. What I have personally noticed that after earnings beats: If earnings are not exceptional, you will often see a sell off where there is profit taking, shorts covering and shorts entering. Combined with the chopiness we saw this past week and today with SPY and QQQ, the sell off shouldn't have came as too much of a suprise. Price was able to recover somewhat later in the session. 2. Target chose to withdrew 2021 fiscal guidance, "in light of the highly fluid and uncertain outlook for consumer shopping patterns and the impact of COVID-19." Not worrisome to most but something worth noting that definitely did not help the sell off we saw on the open. 3. Price was already in a downtrend and broke the lower trendline of wedge shown in chart. A bearish signal. A bullish note: I see Target as a great buy at this price. This was a solid earnings beat with an increase in revenue and sales and a beat on EPS. Earnings highlights: -Target's 2020 sales growth of more than $15 billion was greater than the Company's total sales growth over the prior 11 years. -Comparable sales grew 20.5 percent in the fourth quarter, reflecting comparable stores sales growth of 6.9 percent and digital sales growth of 118 percent. -Total revenue of $28.3 billion grew 21.1 percent compared with last year, driven by sales growth of 21.0 percent and a 28.7 percent increase in other revenue. -Operating income was $1.8 billion in fourth quarter 2020, up 53.2 percent from $1.2 billion in 2019. Analyst are also bullish. The majority of analyst ratings are all upgrades and increase in PT's anywhere from $195-$230. -I'm going to be taking a look at some of the top daily gainers (may throw in some losers occasionally) of the day on their daily charts and posting them here throughout March. This is not advice. Just analyzing price action and patterns. -I will try to vary the catalysts (analyst upgrades, earnings, clinical trial results, etc.) for the stock moving (if any) and the sector that the stocks are in. -You'll notice I try to keep my charts as simple as possible. Black background and no grid. I will be focusing solely on price action, patterns, and support and resistance levels. No moving averages, MACD, volume profiles, Bollinger bands, etc. Please feel free to comment or leave suggestions. I am always looking to improve. Thanks.
NYSE:TGT
by mgallagher1
1
$TGT - long after ERAfter a solid ER and a nice chart. $TGT looks great to go long here. ER Recap: Target exceeded Wall Street’s expectations for the fourth quarter, thanks to a strong holiday season and stimulus checks. [*}The company has gained market share with its e-commerce offerings and wide range of merchandise, as retail competitors temporarily closed and saw sales drop during the pandemic. [*}Still, Target declined to provide a forecast for the year ahead, saying the pandemic has made it too difficult to predict consumer patterns.
NYSE:TGTLong
by InTheMoneyMike
1
Target about to rip & roar to the upside!This is a Daily chart of Target, currently in a very healthy uptrend. The chart pattern i've drawn isn't exactly a cup & handle. You can argue that it's an inverted head & shoulder, although technically inverted head & shoulders pattern are usually a chart pattern to signify reversal from a downtrend. BUT I don't subscribe to the EXACT patterns, but more of the idea/ concept around chart patterns. Whatever the case, price is currently at 20moving average and a weak down cycle (Stoch RSI hasn't reached oversold level), this signify to me that Target is about to surge up much higher. Target profit 1 will be 200. There's no Target profit 2 because there's no resistance/ ceiling. Right now is a good time to buy in. If you trade options, you can buy the At the Money strike with 2 weeks out (if you're aggressive) or 3-4 weeks out. If you have a symbol that you'd like me to analyze, feel free to let me know in the comments! Thanks!
NYSE:TGTLong
by leslieyimsm