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After Yesterday's Rally of 1.06% Shares Could Potentially Pullback

By Shiri Gupta

Target (NYSE:TGT) traded in a range yesterday that spanned from a low of $66.87 to a high of $68.09. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $67.85 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Target have traded between a low of $65.50 and a high of $85.81 and are now at $67.74, which is 3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Target on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $79.85. Since that call, shares of Target have fallen 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Target

Ticker(s): TGT