TGT closes higher for the 8th day in a row
Target Corporation (TGT) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 8th day in a row, TGT ended Thursday at 75.83 gaining $0.60 (0.8%). Today's closing price of 75.83 marks the highest close since February 26th. Closing above Wednesday's high at 75.69, Target Corp. confirms its breakout through the previous session's high having traded $0.69 above it intraday.
Daily Candlestick Chart (TGT as at May 17, 2018):
Thursday's trading range was $1.28 (1.7%), that's below last trading month's daily average range of $1.51. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 75.75 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 78.70, upside momentum might accelerate should the market be able to break out to new highs for the year.