Target Corp Stock Chart Analysis: A Major Top In Place
Shares of Target Corp (TGT) are falling sharply today as investors begin to flee retailers. The Target Corp stock chart analysis signals a major top is in place and further downside is to be expected. The first support on Target is $181.00 but after a small bounce, further downside is likely. Ultimately, the weekly and monthly Target Corp stock chart analysis signals downside in the coming 6-12 months to a target of $137.00.
Investors may not understand the negative case for retailers but it is strong and coming. The main issue is that during the COVID-19 lockdowns, consumers have been stock at home and thus shopping online. As things open again, consumers will be pulling money away from retail and putting it towards travel and leisure. This means a major growth slowdown for retailers.
Target Corp Stock Chart Analysis shown below…
(Click on image to enlarge)
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