Bullseye Bounce?Target Corporation is exhibiting signs of potential bullish momentum, with a notable weekly gap around the $100 level. The stock is currently trading near its 52-week low of $103.46, suggesting a possible rebound opportunity.
A breakout above the $120 level would confirm further strength, positioning the stock to target the $139.68 resistance. This trade setup offers an attractive risk-to-reward ratio, with a stop-loss set at $98.12 to manage downside risk.
The Relative Strength Index (RSI) for TGT is currently at 23.12, indicating oversold conditions and a potential for a bounce.
This combination of technical indicators supports a bullish outlook for TGT, with a potential move toward the $139.68 resistance level.
NYSE:TGT