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TARGET CORPTARGET CORPTARGET CORP

TARGET CORP

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TGTC trade ideas

TGT forms Bearish DivergenceOver the past few of weeks TGT has been on a strong uptrend but has slowed on its momentum since being removed from GS buy list. TGT has not been able to pass the $260 resistance level and it has created a bearish divergence, at the top of a strong uptrend. Expecting an early rejection off the $260 resistance level and the start of the bearish trend. Entry: $254 (with a bounce off $251 and price rejection at resistance) Price Target: $225 Stop Loss: $256.69 Will use the trend lines in between to take profits
NYSE:TGTShort
by christianmartin4746
TGT looks strong for the next month or soTGT has been in a strong uptrend for months now, it seemed as though it was making a reversal but last week the downtrend momentum began to slow - The strong uptrend of TGT is filled with bull flags, and it seems to be going through another - Support channel for TGT was $241.23 - $237.67 - TGT made a strong drop to support line at $241.59 and began to go up from there - $241.59 is about 50 percent of the previous uptrend, which is a good indicator of a bull flag - TGT seems to be giving a bullish doji star at the end of a downtrend (wait til end of day for conformation) - MACD is also showing a slow in downward momentum and MACD line is about to trend up and going to cross signal line - Using Fibonacci extensions and retracements, TGT resistance looks to be between $274.31 - $277.83 TGT usually makes its longer move over a month. $245 looks to be great entry point, but $250.65 seems to be the absolute conformation needed for the long haul.
NYSE:TGTLong
by christianmartin4746