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New York, April 8th (TradersHuddle.com) - Shares of Target Corporation (NYSE:TGT) are trading very close to calculated resistance at $69.84. The stock ended the trading session at just $68.85, which is near levels that make it difficult to buy or start a position.

Target Corporation (NYSE:TGT) operates general merchandise discount stores in the United States. The Minneapolis, Minnesota company operates general merchandise and food discount stores and a fully integrated online business.

Target's stock range is defined by its calculated support defined at $58.01 and by the resistance level at $69.84; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Target. However, as the stock pulls back towards $58.01 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $69.84 then traders will get an opportunity to enter the stock as it moves to a higher range.

Technical Scans

Stock Market

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o Dow Jones 16,102.38 ▼272.38 (-1.66%)
o S&P 500 1,921.22 ▼29.91 (-1.53%)
o NASDAQ 4,683.92 ▼49.58 (-1.05%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,102.38 Trade time:4:30PM EDT Value change:▼272.38 (-1.66%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,921.22 Trade time:4:30PM EDT Value change:▼29.91 (-1.53%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,683.92 Trade time:5:15PM EDT Value change:▼49.58 (-1.05%)

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