Remember last July?
Target (TGT) came under fire and the stock tanked.
It was all over for the once-popular chain.
That turned out not to be the case.
TGT has rebounded like crazy and is now surging toward new highs.
In fact, it’s just a few dollars away from a breakout level.
Here’s the chart:
A break above $175.53 could lead to move back up to pre-Bear Market levels.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
