Target: Overextended Post-Earnings; Sell After Double Peak

Target surprised with solid earnings , as did similarly, Walmart. However these two behemoths in the retail sector represent minor happiness in a brutally decimated sector in retail.

Due to the trade escalation, I believe Target will decrease more to the downside, particularly after being heavily overbought and overextended. However, always watch for the double peak and re-test of the high. In this case, I believe the 2nd peak will be slightly lower than the first but there is a slight possibility it forms of a double peak around 109.50.

At this point I recommend investors hold until the 2nd peak re-test and from there I recommend you sell at-least 60-70% of your holdings as there will be a low chance Target surpasses 112-115.00. Waiting for the 2nd peak re-test will be your best chance for the highest possible profitability.

- zSplit
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