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Next Resistance Level for Target (TGT) is $54.66

By James Quinn

Target (NYSE:TGT) has opened bullishly above the pivot of $53.99 today and has reached the first level of resistance at $54.28. Analysts will be watching for a cross of the next upside pivot targets of $54.66 and $55.33.

In the past 52 weeks, shares of Target have traded between a low of $52.72 and a high of $85.81 and are now at $54.70, which is 4% 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.

There is potential upside of 33.8% for shares of Target based on a current price of $54.70 and an average consensus analyst price target of $73.18. The stock should run into initial resistance at its 200-day moving average (MA) of $76.80 and subsequent resistance at its 50-day MA of $81.52.

SmarTrend recommended that its subscribers protect gains by selling shares of Target on December 28th, 2016 by issuing a Downtrend alert when the shares were trading at $73.37. Since that call, shares of Target have fallen 26.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Target

Ticker(s): TGT