Target Corporation : We anticipate a reversal
Entry price | Target | Stop-loss | Potential |
---|
US$61.25 |
US$0 |
US$58.82 |
-100% |
---|
Take advantage of the uptrend ant the recent downturn of Target Corporation.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at USD 69,865 million against USD 67,390 million for the previous year.
Target Corporation is in an uptrend in the medium and long term, but the last bearish movement returns close to a major support level. This threshold, if preserved, will enable to enjoy the bullish movement.
Consequently, we expect a decline toward USD 60.35. The most active investors can buy the share in this area and target a return toward USD 64.2. A stop loss can be placed under the USD 60.35 support.
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