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TOMMY16320HO
Oct 9, 2019 4:43 PM

Potential of bullish signals Long

Target CorporationNYSE

Description

There are two potential bullish signals that can be found in TGT. They are flag pattern and MACD bullish crossover.
Firstly, the candle stick shows that it is a flag pattern, which the price surged around 20% previously, and then create a channel afterward.
According to the diagram, the channel is apparently shown and established. There is a potential to break through.
Under my prediction,once the break-through (approximately $111) happens, it is a BUY signal and the target price will be $128.

Meanwhile, we can also take a look at the MACD indicator. It is clear to see that MACD has a great potential to cross which is a bullish crossover.
It is necessary to wait for a confirmation. Once the signal confirms, it is a BUY signal.
Comments
BrokeCollegeStudent
I'd suggest looking at it from a bearish perspective. Currently rejecting the 618 fib, rsi and macd are both bearish as well. Also if you draw an equidistant channel you'll see we are rejecting it where we've rejected it every time in the past. Also market absorption just crossed for the first time in six months which is also bearish. Sitting at ATH also is not helping any of this, just my 2 cents!
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