Chart of Day: Retail Stock Catching Strong Support

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. Target (SYM: TGT) looks interesting again. After dropping from about $167.50 to $148.44, the stock appears to have caught strong support. It's also oversold on Williams' %R, which is one of the strongest reversal indicators. In fact, in the chart below, you can see that when W%R dips below its 80-line, the Target stock bottoms out and pivots higher. We expect to see the same thing happen again near term. Helping, over the last few weeks, the stock saw a few price upgrades. In fact, since August 22, RBC Capital, Bank of America, UBS, BMO Capital, Stifel, Truist, TD Cowen, Roth MKM and Evercore ISI all raised their price targets. Evercore ISI, for example, raised its price target to $160 with an In-Line rating, noting, Q2 results provided an "encouraging glimpse of traffic growth and margin recovery" as Target is "rekindling its cheap chic mojo," the analyst tells investors in an earnings recap note. The firm is closing out its negative trading call and removing the stock from its "Tactical Underperform" list as the earnings catalyst has passed, as noted by TheFly.com. Plus, as we get closer to the December holidays, we do expect for TGT to run higher. Did you miss yesterday's Chart of the Day? Click here to view it now. DC2 Publishing LLC 4260 NW 1st Avenue Suite # 55 Boca Raton, FL 33431 – 4264 Daily Guru Trades Copyright © 2023 Daily Guru Trades, All rights reserved. You are receiving this email as part of your subscription to Daily Guru Trades. If you have any questions, please contact us at support@dailygurutrades.com. Daily Guru Trades is a newsletter offered to the public on a subscription basis. 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