Short term view - TARGET CORP : Pulling back to the gap
The trend has been momentarily interrupted by a correction. It approaches the support at $67.70, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $81.40. The invalidation level is below $67.70.Arguments :
- The major support is close.
- The resistance has been reached, it causes the fall.
- The rising moving average confirms our opinion.
- Prices will test the quality of bullish gap. As long as it remains open, consequences will be bullish.
Target provides its customers everyday essentials and merchandise. The company sells an assortment of general merchandise and food. The majority of the company's general merchandise stores provide an edited food assortment, including perishables, dry grocery, dairy, and frozen items. The company's small format stores provide curated general merchandise and food assortments. The company's digital channels include merchandise assortment, including various items found in its stores, along with a complementary assortment. The company also sells merchandise through periodic design and partnerships. The company's owned brands merchandise include: A New Day?, Archer Farms?, Art Class?, Ava & Viv?, Cat & Jack?, and Cloud Island?, among others.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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