TGT Rises on Market Strength, Faces $98 Test
$Target(TGT)$
TGT Rises +2.36%: Retail Giant Finds Footing, Eyes $98 Resistance
Latest Close Data
Closed at $96.53 on 12/25, up +2.36%. Price remains ~33.4% below its 52-week high of $145.08.
Core Market Drivers
Stock gained amid broad market strength. No major company-specific news; movement appears driven by general retail sector sentiment and technical repositioning after recent weakness.
Technical Analysis
Volume was light at 3.3M shares (Volume Ratio 0.63), suggesting cautious participation.
The MACD histogram turned positive at 0.026, indicating potential for a bullish crossover.
RSI(12) at 57.8 has recovered from near-oversold levels, showing improving momentum.
Key Price Levels
Primary Support: $91.54 (recent swing low).
Strong Resistance: $97.54 (immediate hurdle).
Immediate Pivot: $96.53 (today's close). A break above $97.54 could signal a stronger recovery.
Valuation Perspective
Forward P/E of 12.95 sits below its historical average of 16.06 and near the lower bound of its range (-1 Std. Dev: 12.33), suggesting the stock is relatively undervalued.
Analyst Targets
32 analysts have an average price target of $98.92. Sentiment is mixed with 5 Strong Buy, 6 Buy, 22 Hold, 4 Underperform, and 2 Sell ratings.
Weekly Outlook
Expect consolidation between $94-$98. A decisive break above $97.54 resistance could target the $100-$102 zone. Failure to hold $94 may see a retest of the $91.54 support.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Conduct your own research before making any investment decisions.
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