TGT finds buyers at key support level
Target Corp. (TGT) Technical Analysis Report for Sep 14, 2018
Moving lower for the 4th day in a row, TGT ended the week -0.9% lower at 87.94 after losing $0.14 (-0.16%) today. Today's closing price of 87.94 marks the lowest close since August 31st. Trading $0.40 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 87.95, the share confirms its breakout through the previous session's low having traded $0.41 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.98 (1.11%), that's below last trading month's daily average range of $1.43. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
After trading as low as 87.54 during the day, the stock bounced off the key support level at 87.75. The failure to close below the support could increase that levels importance as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
As prices are trading close to September's low at 87.41, downside momentum might accelerate should Target Corp. mark new lows for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Target Corp.
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|5 Consecutive Lower Closes||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Bearish Break through SMA 20||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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