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Look for Shares of Target Corp to Potentially Rebound after Yesterday's 7.08% Sell Off

By Shiri Gupta

Target Corp (NYSE:TGT) traded in a range yesterday that spanned from a low of $116.75 to a high of $119.40. Yesterday, the shares fell 7.1%, which took the trading range below the 3-day low of $122.93 on volume of 14.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Target Corp on August 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $100.76. Since that recommendation, shares of Target Corp have risen 24.3%. We continue to monitor TGT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Target Corp has traded in a range of $67.17 to $130.24 and is now at $116.02, 73% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.8%.

Keywords: rebounders target corp

Ticker(s): TGT