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This Chart May Spell Trouble For Target

Today I’ll look at a long-term chart of a major retailer: Target stock (TGT). One way to keep track of a stock’s rate of change and/or trend is to use long term log trend charts. Basically, if a security stays above/below a long term trend line then the trend is alive and well.

However, when a trend line is overcome either above or below then it’s time to take notice. Case in point: Target stock (TGT).

Here is a long term stock chart of Target (TGT). Also note that it is a monthly chart. As of the 05/31/2016, we saw TGT’s first monthly close in over 40 years below its long term log trend line. In my opinion, this is not a bullish indication for the future of Target (TGT).

The concern is that the stock may be carving out a top (and this is a warning). So the bulls need to see a major recovery during the summer months or the stock will stay on alert.

Read more at See It Market

One Response to This Chart May Spell Trouble For Target

  1. Todd Hurd June 6, 2016 at 2:21 am #

    I donated to help keep your truck running