Surging: TGT

by | Mar 21, 2024

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.

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