Can TGT Stock Price Relaunch?

TGT stock price may rise from its ashes to reach the $140 recovery level over analysts claim. TGT shares need to attract buyers in Friday’s trading session. However, sellers’ may approach to short the market for TGT shares. Investors need to hold their guard and position to check for a spike in TGT stock price in Friday’s trading session.

TGT stock price was at $131.02 and has gained 0.14% of its market capitalization before Friday’s trading session. Trading volume was below average and needs to grow intraday.

TGT Stock Price: Technical Analysis

TGT stock price needs to attract buyers during Friday’s trading session to surge towards the upper trendline of the consolidation phase over the daily time frame chart. Meanwhile, TGT share price is trying to gather support and surge towards 20, 50, 100 and 200-days Daily Moving Averages. TGT Stock have been consolidating inside the horizontal price range of $126.75 and $135.30.

TGT shares must surge towards the upper threshold of the consolidation phase in order to register its breakout. However, if TGT share price manages to sustain at the upper threshold, then TGT may experience a major growth breaking out from the secondary resistance of $138.07.

Nevertheless, TGT stock price has declined around 1.24% in a week but gained 0.57% in a month. Also TGT share price shed around 19.52% in the last three months and 17.01% over the last six months. However, the TGT stock chart shows a declining streak in May. But analysts believe that TGT share price may bounce back from the lower levels.

Technical indicators suggest the presence of a consolidation phase in the near future for TGT share price. Relative strength index (RSI) showcases the sideways momentum of TGT stock. RSI was at 41 and is struggling to reach neutrality.

MACD exhibits the consolidation phase of TGT shares. The MACD line has been above the signal line but waiting for any type of crossover. Investors in Target Corp. (NYSE: TGT) stock needs to wait for the TGT shares to reach the upper threshold of the consolidation phase.

Summary

TGT stock price may rise from its ashes to reach the $140 recovery level over the charts according to the analysts from a financial firm. Meanwhile, TGT share price is trying to gather support and surge towards the 20, 50, 100 and 200-days Daily Moving Averages. However, TGT stock declined rapidly in May. TGT share price will consolidate soon, as per technical indicators. Investors in Target Corp. (NYSE: TGT) stock need to wait for the TGT shares to reach the upper threshold of the consolidation phase to make trades.

Technical Levels

Support Levels: $130.15 and $130.00

Resistance Levels: $132.00 and $135.50

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing