Target Stock Forecast
Evaluation of Target stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The Target stock price gained 1.45% on the last trading day (Thursday, 28th Mar 2024), rising from $174.67 to $177.21. During the last trading day the stock fluctuated 1.55% from a day low at $174.69 to a day high of $177.40. The price has risen in 6 of the last 10 days and is up by 7.85% over the past 2 weeks. Volume fell on the last day by -444 thousand shares and in total, 4 million shares were bought and sold for approximately $654.39 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong 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 25.81% during the next 3 months and, with a 90% probability hold a price between $213.59 and $230.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $172.35 and $159.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 7.91%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $173.54 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 $2.71 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $171.15 (-3.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (TGT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Target Corporation to open at $176.43, and during the day (based on 14 day Average True Range), to move between $173.77 and $180.65, which gives a possible trading interval of +/-$3.44 (+/-1.94%) up or down from last closing price. If Target Corporation takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $173.54, some $3.67 (2.07%) from the current price of $177.21, our system finds the risk reward attractive.
Is Target Corporation stock A Buy?
Target holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Target Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$176.43 ( 0.440%) | $177.21 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 179.14 | 1.09 % | |
R2 | 178.10 | 0.505 % | ||
R1 | 177.47 | 0.144 % | ||
Current price: | 177.21 | |||
Support | S1 | 175.39 | -1.02 % | |
S2 | 174.76 | -1.39 % | ||
S3 | 173.72 | -1.97 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 177.21 | |||
Support | S1 | 173.54 | -2.07% | |
S2 | 168.58 | -4.87% | ||
S3 | 150.49 | -15.08% |
TGT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | May 14, 2024 | Jun 10, 2024 | $1.10 | 0.621% |
2 | Feb 20, 2024 | Feb 20, 2024 | Mar 10, 2024 | $1.10 | 0.648% |
3 | Jan 17, 2024 | Jan 19, 2024 | Mar 10, 2024 | $1.10 | 0.648% |
4 | Sep 20, 2023 | Nov 14, 2023 | Dec 10, 2023 | $1.10 | 0.81% |
5 | Jun 15, 2023 | Aug 15, 2023 | Sep 10, 2023 | $1.10 | 0.89% |
FAQ
Click here for our free guide on how to buy Target Stock.