Will The Downtrend Lead To New Lows In The TGT Stock Price?

• TGT stock price has witnessed a decline of 3.28% in the last trading session.
• The current ratio of the Target Corporation is less than one resulting in 0.83.

Target Corp., a big American retail company in Minneapolis, Minnesota, has a long history since it started in 1902. It’s one of the largest retailers in the US and is part of the S&P 500. People like Target because it offers affordable stuff. They have almost 2,000 stores and they compete with Walmart and Amazon but they haven’t been very successful in other countries. 

The TGT stock is currently following a 52-week range of $102.93-$181.70. The gross margin of the company is 23.90%. The current beta of the TGT stock price is 1.22 making its returns more volatile as compared to the overall market.

The Target Corporation has 460.249M shares floating in the market representing the number of shares available in the market for trading. However, it has an EPS of 7.32 USD which shows that buyers are interested in the TGT stock and are willing to pay a good sum of money for buying the company’s shares. This stock has a market cap of $49.498B.

Strong Bearish Candle, What’s Coming Ahead?

a by writer11_gsm on TradingView.com

TGT stock recently broke below a consolidation zone and continues to trade beneath it, forming lower price patterns. In the last trading session, it displayed a significant bearish candle, indicating a bearish trend and potential further price declines.

TGT stock is in a bearish trend, trading below both the 50-day and 200-day exponential moving averages (EMA). This consistent decline is marked by the formation of lower lows, suggesting ongoing downward price movement.

TGT stock’s relative strength index (RSI) is at 39.47, declining from the neutral 50-level. Additionally, it has broken below the 14-day simple moving average (SMA) line. These signs indicate bearish momentum and the potential for further price declines in the stock.

Conclusion

The TGT stock has experienced a series of bearish indicators, including breaking a consolidation zone and trading below key moving averages, suggesting an ongoing downward trend. Additionally, the RSI decline and break below the SMA line signal bearish momentum. While Target is a well-known retailer, these technical factors point to a potential continuation of price declines in the future.

Technical Levels

• Support levels- $81.00 and $90.00
• Resistance levels- $113.00 and $127.50

Disclaimer

The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.