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Market Insights

Bringing you the trading news around the world.

Chart of the Day: Target Could Be Breaking a Triangle

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Target gapped lower on weak earnings four months ago. Now it may be showing signs of the bearish trend continuing.

The main pattern on the retailer is a converging squeeze between the 50-day moving average and the 100-day moving average . This has produced …

For more, please click here to view the related idea and chart analysis on TradingView.

Target (TGT), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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