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AI Analysis of TGT
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Target stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Sep 13, 2024)
The Target stock price gained 1.97% on the last trading day (Friday, 13th Sep 2024), rising from $148.44 to $151.36. During the last trading day the stock fluctuated 2.10% from a day low at $149.48 to a day high of $152.62. The price has fallen in 6 of the last 10 days and is down by -1.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 58 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $314.34 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.80% during the next 3 months and, with a 90% probability hold a price between $139.09 and $164.87 at the end of this 3-month period.
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TGT Signals & Forecast
The Target stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $149.84 and $146.92. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, August 21, 2024, and so far it has fallen -4.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Target stock
Target finds support from accumulated volume at $146.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.14 between high and low, or 2.10%. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: $143.80 (-4.99%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (TGT) For The Upcoming Trading Day Of Monday 16th
For the upcoming trading day on Monday, 16th we expect Target Corporation to open at $151.15, and during the day (based on 14 day Average True Range), to move between $147.52 and $155.20, which gives a possible trading interval of +/-$3.84 (+/-2.54%) up or down from last closing price. If Target Corporation takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $151.40 (0.03%) than the support at $146.13 (3.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Target Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Target stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
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Current score: 1.411 Buy Candidate Upgraded
Predicted Opening Price for Target Corporation of Monday, September 16, 2024
| Fair opening price September 16, 2024 | Current price |
|---|---|
| $151.15 ( 0.137%) | $151.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 154.29 | 1.94% |
| R2 | 153.09 | 1.15% |
| R1 | 152.35 | 0.656% |
| Price | 151.36 | |
| S1 | 149.95 | -0.93% |
| S2 | 149.21 | -1.42% |
| S3 | 148.01 | -2.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 159.25 | 5.21% |
| R2 | 156.82 | 3.61% |
| R1 | 151.40 | 0.0264% |
| Price | 151.36 | |
| S1 | 146.13 | -3.46% |
| S2 | 144.33 | -4.64% |
| S3 | 133.87 | -11.56% |
TGT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Aug 21, 2024 | Sep 10, 2024 | $1.12 | 0.757% |
| 2 | Mar 13, 2024 | May 14, 2024 | Jun 10, 2024 | $1.10 | 0.741% |
| 3 | Feb 20, 2024 | Feb 20, 2024 | Mar 10, 2024 | $1.10 | 0.648% |
| 4 | Jan 17, 2024 | Jan 19, 2024 | Mar 10, 2024 | $1.10 | 0.648% |
| 5 | Sep 20, 2023 | Nov 14, 2023 | Dec 10, 2023 | $1.10 | 0.81% |
FAQ
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