Shares of Target Corp (TGT) have rallied off their April 2020 low of $90.00. The retailer has seen its stock price surge through $120.00, trading at $121.66. This massive upswing on Target, in a sector that likely won’t get major shoppers going to stores is getting long in the tooth. In fact, a Target strong sell alert is nearing at the $125.00 level. This level represents a major gap fill resistance point as well as a retrace of the entire drop of 90% of the fall during the Covid-19 market panic.
As a swing trader, this Target strong sell is a no brainer shorting opportunity for a quick pull back of 10% in the stock. A retrace to $113.00 is a high reward, low risk technical stock chart setup.
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