TGT stock has both stepped back on 2.618 in golden sectionTGT stock has both stepped back on 2.618 in golden section
This figure shows the weekly candle chart of Target Corporation's stocks over the past two years. The top to bottom golden section is superimposed in the figure. As shown in the figure, Target Corporation's stock peaked three times in August and November of last year, reaching its highest point in January of this year, reaching the 1.618 position of the golden section in the figure! Moreover, the two low points of Target Corporation's stock this year have both stepped back on the 2.618 position in the golden section of the chart, and are about to reverse and move upwards!
DYH trade ideas
Target to break back to the upside?Target - 30d expiry - We look to Buy a break of 138.53 (stop at 131.53)
This stock has seen good sales growth.
138.28 has been pivotal.
A break of the recent high at 138.28 should result in a further move higher.
Bullish divergence is expected to support prices.
The bias is to break to the upside.
Our profit targets will be 156.53 and 159.53
Resistance: 133.00 / 135.50 / 138.28
Support: 128.55 / 125.08 / 120.00
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Will it hit my $TGT?With NYSE:TGT struggling to find its footing after its May downturn, it's due for good news. The upcoming earnings report might be the catalyst needed to challenge the persistent downward trend. Despite lagging behind NASDAQ:AMZN and NYSE:WMT , TGT is working hard to regain ground it suffered from overstocking issues and inefficient offloading strategies like promotions and sales, logistics updates, and donations. Anticipate news about these strategies, and potential dividend increases to attract new investors.
Bullish Case - TGT, currently range-bound, is trying to incorporate pandemic-related impacts into its pricing. It's at least a $150 stock and should be valued accordingly. The downtrend is a reaction from major investors who want resolution to existing issues and a plan for longevity. They've had plenty of time to address these issues.
Bearish Case - It's a range-bound distribution phase. Note how it's retracted over 50% of its gains from the pandemic low. Typically, continuation is 38%, but it's even surpassed the .618 golden ratio. It would be wise to avoid complications and let sleeping dogs lie. Claiming it would return to pandemic levels is too aggressive, but a price just above $100 should attract stronger supporters for a rebound.
Conclusion - TGT isn't a fan favorite, and understandably so. However, the aggressive pullback is noteworthy, even WMT didn't face this level of pressure. The chart below shows a substantial divergence, presenting an opportunity. At this point, the ball is in TGT's court. How they act in the latter half of the year will determine their fate.
Bullish - 140.27
Bearish - 125.25
Major Support Broke on Target. TGTABC downward zigzag. Gentle ABCD triangle for B Wave here. Confluence of Fibonacci goals shows us some good targets. Bolinger Bands are squeezing. My guess is we are in Wave 4 of a SubWave 3 of an undetermined degree.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Target ready for more downside (Daily)Target is approaching another downturn as we have just finished off the micro wave 4 correction inside the wave 5 down. If we take a look at the top of the macro wave 4 (which is in yellow) we can see I have drawn out the micro wave count of the macro Wave 5 we are in.
The Fibonacci levels fit in with the Wave 2 and Wave 4 corrections inside this downturn. With this being said I see more downside coming for this stock and is a good time to probably get some PUT OPTIONS flowing because we have seen rejection at the .236 rejection pretty heavily
Target for long term investingI chose to invest in Target based on its price point, considering the double bottom pattern that I identified on the chart. This entry point seemed favorable to me. As expected, the stock then reached my resistance level, providing evidence that charts can be useful in making decisions regarding entry and exit points. While chart analysis is not flawless, it does assist in decision-making processes.
Bottom Likely InTarget has obviously taken a beating for reasons that shouldn't need explaining. However, I do believe that the bottom base is between $128-$132 which it could reverse from.
Keep in mind: bottoms can take weeks, if not a month(s) to form, so there needs to be patience here.
Not financial advice, best of luck :)
Target must break above resistance or more downside (Weekly)Target has been in a downtrend for awhile now, and it will continue to fall 100% if we do not break above this resistance line where Wave 3 had ended. If we are to break above this line it would give me a sign that Wave 5 has ended and have upside coming. Until then, we must wait.
Target-ing (TGT) a LongThe Setup
Target NYSE:TGT has had a very bearish fall off All-Time-Highs over the last 2 years. It has finally retraced the entire length of its run from the 2019 Pre-COVID High and returned to it as potential Support. Price MUST hold here or else continue down to lower levels in the "Valley of Risk". It is worth a trade off this level.
The Trade:
Today on the opening 30 minute spike we got such an opportunity for a low-risk entry. The price spike had an acceptable ATR Clearance per my rules and happened on the 50% Retracement of the June low to June high. The first Target is the June high with a following target of the 50% Retracement of the 2023 bear trend around 153.39.
Short TargetShort Target
Target (TGT) stock closed down by almost 1% today as short interest swirls around the struggling retailer.
Target a prime short candidate after repeatedly lower guidance.
Target has suffered some near-term losses recently, having been forced to slash prices to clear out overstocked inventories in many of its retail locations.