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Alert: Target Hits Major Support, Could See Rise



February 18, 2011 – Comments (0)

Target Corporation (NYSE:TGT) has been crushed of late, dropping almost daily from the 52 week high, hit on January 3rd, 2011. This level was $60.97. From that pivot high, the stock has collapsed, dropping on sales fears and worries. As of today, Target Corp. hit a massive support level at $51.75. This coincides with a pivot double bottom from October 29th, 2010 at $51.75. The stock now turns from a bearish collapsing play to a mildly bullish mover, with upside potential in the short term.  

Gareth Soloway

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