I Would Avoid Shorting Target Due To Technicals
Target $Target(TGT)$ is another US company that became politically active and may have triggered many customers in a similar way BudLight did. I would avoid shorting it due to the technical outlook.
The stock consolidated for almost a year now with 158$ being the pivot point. We are below that price now. While I do believe that the downside potential is significant, the stock is not at a premium price. In other words, it is already cheap.
What I am looking for is a good technical setup that would be supported by a potential outrage/boycott. If the price is driven down here, it is the boycott alone with no technical support. 175 must be a minimum price before I would consider shorting.
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- Ericdao·2023-05-28Can't short, oversold. Can't buy, still very bearishLikeReport
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- LEESIMON·2023-05-20OkLikeReport