TGT Long Weekly

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Target recently completely redid their company security structure and the
market responded buy heavy buying confirmed with heavy volume and a huge reversal bar on the weekly..
I look for continued buying as the bears over did it.. Target is extremely well
run however like any major company is subject to a gaff in operations. I remember the new Coke in the
1980's and how Coke fought its way back for huge gains after that debacle. Any dips should be bought and
I look for TGT             to retest its highs long term Target has a unique nich in how they market products particularly to younger shoppers in their sector
Target looks better 7 or so weeks later. It looks ready to make a push up now that the sellers are getting cleared out. The short sellers have to have a big position on now because it did look so ugly, technically back up against resistance from the breakdown level. Nice catch and comments.
I'd give it about 8 more weeks to hold above the lows on the next decline. I like TGT too, but it needs to get over $64 before it can get to $73. The odds look to still be on the downside after all of that distribution over the $64 level. Perhaps use the 50% speed line and for a whole bar to get above it before thinking that the bottom is safely in place. Tim 9:17AM Wed, March 12, 2014
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