Target: Bullish Breakout on Earnings with Upside

Everyone is talking about the retail rally that got kicked off by TGT and HD and WMT earlier, but it's very clear to me that TGT is the clear winning security for pair traders. I'm also very confident that their rally is sustained and will withstand other market headwinds. Volume is HUGE. I bought in the day before earnings because I was confident that they would do well and it was the earliest I could without buying the dividend. I just didn't expect to wake up the next day having gained 20% over my initial first stage of scaling in capital!

I usually have a litany of technical indicators like moving averages and convergence/divergence with MACD , relative strength index for price strength, rate of change for a quick momentum reading, Chaikin's money flow for volumn action, ADX and DI- and DI+ for trendedness, and relative strength comparison against the S&P 500 for a general market performance temperature of a stock. Well, welcome to a short lecture on my system, because all of them are flashing bullish so hard. If it weren't for a huge TGT fundamental and technical confirmation here on earnings , I'd be very wary, but I'll continue to allocate further capital towards them until I hit the ceiling of my risk management strategy.

Trade on, and don't wait too much longer on this move! You may consider waiting for the first pullback, but you likely have only a couple of days to consider scaling in before this takes off completely.


Great Analysis, looks like you jumped in at the right time!
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