TGT - Gaps to Fill Down - Earnings Miss - Trade Cautiously Waiting for confirmation break of white trendline to enter bearish.
Trade Entry
Will update with specifics once trend breaks.
Chart Details
Earnings miss on TGT caused gap down, almost filling top gap in chart.
Other large gaps down to $73.
Bearish EMA cross and bearish 10WeekMA price cross, but price still in “fakeout channel”.
Must confirm break of channel to indicate entry for downtrend.
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DYH trade ideas
TGT Platform Position TrendTGT has a Platform candlestick pattern which is a Position Trading style sideways price action. It is indicative of Dark Pool Quiet Accumulation that then triggers High Frequency Trader gaps. The resumption of another Platform candlestick pattern indicates the accumulation is not over.
TGT - From Outter Space - 45 Year Log Chart - Part 2 of 2Daily view shows that short term we are overbought.
Weekly view better confirms TGT overbought with RSI trend maxed out, Fisher Transform making wedge pattern, with next trend being bearish.
Based on the chart, I see we pullback to close the first gap (red box) which lands on the white line channel.
Then ride white channel up for a week or two, fall back into the second white channel, and then continue up to yellow top resistance line.
TGT moves VERY SLOW.
Basically:
- short term BEARISH - overbought RSI, pullback to red box.
- intermediate term BULLISH - until possibly May 2020. Some pullbacks in between.
- long term BEARISH - after price hits yellow resistance. This is best time to enter in my opinion. Knowing the only direction next is down.
Again, TGT is slow so it is best to plan entries on a weekly chart. You may be in this position longer than expected.
I am not in the position currently. If I enter, I will update charts.
I really apologize for yesterday after positing Part 1 of 2. I was notified that no user is allowed to post over 10 charts per day.
I would not have posted Part 1 without Part 2. I did not know about the 10 chart limit. This will not occur again. Thank you for your support.
The yellow resistance lines are strong support as seen in the Part 1 of 2 chart below. I consider 45 years strong. LOL
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
TGT - From Outter Space - 45 Year Log Chart - Part 1 of 2TGT currently looks to be one of the only retailers with positive returns currently.
The log chart shows a 45 year history where the support and resistance have many points of contact.
This strong support and resistance implies that the current trend will end when we get to top resistance.
The length of this current log trend from 1970's to 2020 shows the pattern leveling off.
This means we could see either a break down or break up in the next upcoming years.
I will update this chart with Part 2 of 2 showing daily price action.
Daily price action looks ready to short or buy puts soon.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
Target TGT earning beat optionsTarget has earnings reporting this morning with the beat they should have some exciting action.
The previous time target moved almost 25% so there should be lots of range in this one to move the options chain. Looking at this at market open for 2 to 3 trade ideas
1)pure options buy of the $122 Dec20 2019 call
2)the combination of buying the stock and selling the april1 7th 2020 $130 call and buying the $110 put
3)selling the straddle at open nov 22 $121 puts and call to bleed out the earning premium.
Liquidity is key we do have a buy on the ninja scalper
As always trade ideas are generated from The NinjaScalper (Part of the trade indicator suite of tools)
#TradeSafe #TradeSocially
None of this is investment advice just for your infotainment and edutainment