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Look for Shares of Target Corp to Potentially Rebound after Yesterday's 2.21% Sell Off

By Shiri Gupta

Target Corp (NYSE:TGT) traded in a range yesterday that spanned from a low of $67.60 to a high of $69.23. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $68.50 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Target Corp has traded in a range of $60.45 to $90.39 and is now at $69.31, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Target Corp on November 15th, 2018 by issuing a Downtrend alert when the shares were trading at $81.46. Since that call, shares of Target Corp have fallen 14.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders target corp

Ticker(s): TGT