TGT looks strong for the next month or so
TGT has been in a strong uptrend for months now, it seemed as though it was making a reversal but last week the downtrend momentum began to slow
- The strong uptrend of TGT is filled with bull flags, and it seems to be going through another
- Support channel for TGT was $241.23 - $237.67
- TGT made a strong drop to support line at $241.59 and began to go up from there
- $241.59 is about 50 percent of the previous uptrend, which is a good indicator of a bull flag
- TGT seems to be giving a bullish doji star at the end of a downtrend (wait til end of day for conformation)
- MACD is also showing a slow in downward momentum and MACD line is about to trend up and going to cross signal line
- Using Fibonacci extensions and retracements, TGT resistance looks to be between $274.31 - $277.83
TGT usually makes its longer move over a month. $245 looks to be great entry point, but $250.65 seems to be the absolute conformation needed for the long haul.
- The strong uptrend of TGT is filled with bull flags, and it seems to be going through another
- Support channel for TGT was $241.23 - $237.67
- TGT made a strong drop to support line at $241.59 and began to go up from there
- $241.59 is about 50 percent of the previous uptrend, which is a good indicator of a bull flag
- TGT seems to be giving a bullish doji star at the end of a downtrend (wait til end of day for conformation)
- MACD is also showing a slow in downward momentum and MACD line is about to trend up and going to cross signal line
- Using Fibonacci extensions and retracements, TGT resistance looks to be between $274.31 - $277.83
TGT usually makes its longer move over a month. $245 looks to be great entry point, but $250.65 seems to be the absolute conformation needed for the long haul.
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