Trading Idea: - Is Target close to Resistance?

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.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 18,080.14 ▲21.45 (0.12%)
o S&P 500 2,117.69 ▲4.76 (0.23%)
o NASDAQ 5,092.08 ▲36.02 (0.71%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:18,080.14 Trade time:5:01PM EDT Value change:▲21.45 (0.12%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,117.69 Trade time:5:01PM EDT Value change:▲4.76 (0.23%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,092.08 Trade time:5:16PM EDT Value change:▲36.02 (0.71%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.