Target Corporation (TGT)
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
In the current situation of Target there is not any eligible buy setup. This doesn't mean $TGT will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
When you own a stock with some profit, it's really difficult to decide the good moment to sell and get your profits. Trading strategies help us to avoid impulsive decisions based on our moods or the buzz surrounding the market. Our trading system selects very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies should not be used for shorting Target stock
A guiding principle is that you should not keep an investment that leads to higher than expected losses upon the buy. The timing to sell shares always has to be determined by the stop-loss (automatic or manual)
In the current situation of Target there is not any eligible sell setup, so Target stock holders with operations in profit can keep their positions
Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal
In the last 30 days, 3 brokerage ratings were published for Target. General sentiment is bullish, with 2 out of 3 posting positive forecasts
| Brokerage firm | Rating |
|---|---|
| Sep 23rd, 2020 | |
| Tigress Financial | Strong buy |
| Oct 8th, 2020 | |
| Deutsche Bank | Strong buy |
| Oct 16th, 2020 | |
| Jefferies Financial Group | Neutral |
Target stock started an uptrend last April, and gained an amazing 79.53%. The price shows higher peaks and higher troughs, and along the way gave some entry points for those who wanted to invest. Latest low was in early September, when price bounced at $143.38. Now, it swings in a consolidation between its last top ($167.42) and its last bottom ($143.38)
On Tuesday, Target reached all-time highs (ATH) again at $167.42. Stock surged fast in the last 2 weeks, smashing new all-time highs 3 times
A favorite tool of many technical analysts are the moving averages, that easily show trend momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days
Investors use support and resistance levels as a way to find price points on a chart that tend to behave as obstacles, containing the price of shares to move up or down. A support level is a level where the price may stop as it falls. This means that the price is more likely to "bounce off" this level rather than break through it. However, if the price breaks down this level, it will probably continue descending until finding another support level. On the other hand, resistances are where the price may find resistance as it moves up. Likewise, this means that the price is more likely to "bounce off" at this level, and if it finally breaches this level, the price will rally more easily until it hits the next resistance
The current resistances are:
The current supports are:
So-called Bollinger bands are a well-established technical strategy designed by John Bollinger. Basically, the Bollinger Bands are lines that move around a moving averagediffering in distance from the bottom to the top depending on market volatility. They are usually plotted by an interval of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20
The Relative Strength Index is an oscillator-type indicator that track price fluctuations to detect when the price of a share or financial asset is overbought or oversold. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in 1978
The RSI dropped below the overbought level of 70 on October 16 after just crossing to the overbough zone for 1 day (weak signal). The RSI value today was 53.63. Since that level was lost, Target stock dropped a 3.16%
Target Corporation ($TGT) came out with fiscal 2nd-quarter earnings of $3.38 per share in mid-August, highly improving the Market consensus estimate of $1.62 per share. This Q2 report means an earnings surprise of 108.64%.
Same quarter last year, reported EPS was $1.82, so recently posted EPS means a gain of 85.71%.Target ($TGT) is hosting the Q3 earnings call on mid next November. Wall Street analysts expect an EPS of $1.52, that is a 55.03% less than Q2.
