TGT pushes through 50-day moving average


Target Corp. (TGT) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
TGT closes above its opening price after recovering from early selling pressure
TGT pushes through 50-day moving average
TGT closes within previous day's range after lackluster session
TGT ends the day indecisive
TQ Sentiment
Report Sentiment: 44% Bullish
Technical Forecast:
Overview

TGT ended Monday at 72.00 gaining $0.48 (0.67%). Trading up to $0.47 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TGT
Volatility

Monday's trading range was $0.96 (1.33%), that's far below last trading month's daily average range of $1.70. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving lower in the prior session, the market managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 71.41.

Trend

Target Corp. shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 50-day moving average at 72.00 today for the first time since April 10th.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 73.59 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 71.14 where further sell stops might get activated.

Conclusion

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.
ConditionForecastDirectionWinAvgWorstBestEvents
Very Strong Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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