Target Still Missing the Mark

 | Mar 15, 2017 | 3:35 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


Target (TGT) has a set of bearish charts that are targeting still lower prices in the weeks ahead. This should not be a big surprise to regular readers of Real Money and Kamich's Korner. Back in January we covered Target and saw the weakness. Our updated charts are still bearish, unfortunately.

In the daily chart of TGT, below, we can see that TGT tried to stabilize and improve a bit in February but bullish hopes were dashed with another big gap to the downside. Notice the heavy volume as investors sold heavily? The 50-day and 200-day moving averages remain in a downtrend. The On-Balance-Volume (OBV) line broke to a new low for the move down this month and there is no bullish divergence between the price action and momentum.


In the weekly chart of TGT, below, we needed to go back 10 years to see what support might be below the $55 level. TGT is below the declining 40-week moving average line. The next possible support below $55 is the $50-$45 area from 2011. The weekly OBV line remains bearish as does the Moving Average Convergence Divergence (MACD) oscillator.

In this updated Point and Figure chart of TGT, below, we can see an updated price target of $48 or right in the next support of $50-$45.

Bottom line: Don't fight the tape, don't fight the trend -- TGT is expected to grind lower into the $50-$45 area in the weeks ahead.



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.