Chart of the Week: Target
Hey good morning everybody. Time for our chart of the week, and this week we’re gonna focus in on Target. TGT is the symbol. It’s pulled back a little bit. Looks like a good opportunity here.
So, as you can see, the stock’s made a really nice move up since bottoming out in the end of 2025. We’ve had higher highs, higher lows. You can see the big blue arrow pointing upwards from the bottom left to the upper right. Higher highs, higher lows – this is our textbook definition of an uptrend.
But what I find interesting here is this 50 day moving average – which is this blue line right here. It just penetrated that on July 6, and it did that about four, five, six times back at the end of May and early part of June. Tested it in April. Tested it in March. And I think every single time it’s tested this 50 day moving average line, it’s taken off to the upside. So we think this is gonna happen again one more time.
Relative strength has come down a little bit. It was pretty well overbought about a week or so ago when the stock was up about $141.
Yes, we do have a bearish crossover on the MACD.
Also money flow is negative. But it’s not horrible, right? Cuz look back in April when money flow went negative for about two weeks. It just consolidated a little bit. The stock made higher highs, higher lows over here. Made a nice run up here, pulled back to the 50 day moving average. Again, this 50 day moving average seems to act as a magnet but also a good launch point for this stock to go higher.
We also see some good action and good relative strength in the stock and also in the on-balance volume.
Money flow again, negative right now, but we think that once people start getting back into Target on this pullback here, we’ll see that money flow start to improve. We’ll see MACD improve.
We’ve seen some OK volume as well on the stock. And once again, you know, we had some good volume to the upside, we had some good volume to the downside. People take profits, so that’s pretty much what we’re seeing with Target right now. But I think this pullback to this 50 day moving average is a good opportunity.
So take a look at Target. Thanks so much for watching everyone, and I’ll see you guys next time.
