TGTB34 trade ideas
TGT - BUYWe entered into a long-term Target position yesterday.
Riots and COVID will cause small shops to go out of business or close up during repairs. Therefore, people will turn to the larger chains.
Target is the type of store you go in looking for one thing and come out with 10. That's only going to increase as there become less small business to compete with.
If anything, it's a good place to store come cash in between positions.
You could also wait for a clean break-through of 130 before entering.
TGT Predictions for next weekDefinitely fell, even with good earnings.
Trend lines are updated here and should see the bounce into next week.
$TGT Oversold Finding Support$TGT Oversold Finding Support
Assuming trendline holds, price target $128.00 by end of May.
TGT LongSimple ABC Correction + Support + Bullish Momentum + Divergence (Lower Time Frames)
Initial Price Target: 124.12
Secondary Target: 128
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.
TGT Movement predictionsEarnings didn't show immediate positive results but summer time spending will jump
BUY with TARGET DailyHello traders, TRAGET has been forcefully rejected by sellers it is plausible that she will pull back and go up
Please LIKE & FOLLOW, thank you!
Speculative Wave Analysis on TGT (Buy in Pullback)...!Buy in pull-back (112 nearby)
Expected advanced predicted HH at (120 nearby) .
The price already entered into bullish because Previous LH 119 and CMP 119 nearby .
TGT possible pre earnings playIt has broken out of the resistance channel and gapped up off the resistance. I'd say this is Bullish. A backtest here definitely looks like a buy if you feel so inclined. stop loss area is a break of $113.
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.
HEAD & SHOULDERSA head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. This pattern is believed to be one of the most reliable trend reversal patterns, and predicts a bullish-to-bearish trend reversal.
%TGT I H&S AND CHANNEL Historically, the $TGT stock has been in this channel for quite some time. (white for dummies) When it broke out of this channel, it reached an all time high. Then we can clearly see a nice inverse head and shoulders. Next target would be $64 if falls back in here.
$TGT Trading At Key Trendline Support$TGT has sold off to key trendline support and this is a dip worth buying. There's a lot to like with $TGT.
Target (NYSE:TGT) says it has been experiencing unusually strong traffic and sales as customers stock up on items like food, medicine, cleaning products and pantry items.
As a result, the retailer is adjusting the expected timing of some of its strategic initiatives, to support the team and minimize potential disruptions in their work. Target now expects to do 130 store remodels in 2020 vs. the previous expectation of ~300 and open 15 to 20 new small format stores this year vs. the 36 previously announced.
Target says comparable sales are more than 20% higher Y/Y in March so far, with comparable sales in essentials and food & beverage up more than 50%. During that same period, comparable sales in apparel & accessories are down more than 20%. The retailer warns that continued sales declines in higher-margin discretionary categories could result in lower-than-expected gross margin dollar performance for the remainder of the quarter.
Target is pulling guidance due to the unusually wide range of potential outcomes for Q1. The company is also suspending share repurchase activity in the current environment.
Credit Suisse digs into Target (TGT -6.7%) after the company was one of the first large retailers to provide an update on financial performance since COVID-19.
CS points to Target's significant sales upside due to essentials/food purchases, but also notes the higher costs that limit the short-term EPS upside.
"These are not data points that can be extrapolated forever, but we believe that the longer-term implications are more positive in our view, given TGT's ability to fulfill such significant demand," writes analyst Seth Sigman.
The firm keeps an Outperform rating on Target and price target of $125 (33% upside potential).
As always, trade with caution and good luck to all!
