May 18 Chart of the Day - Target
After Target (TGT) reported earnings earlier this week its stock price has spectacularly gone nowhere. Seemingly trading side ways and coiling for its next move on the weekly chart traders can see the squeeze forming.
Which way price goes when it breaks out is anyone's guess because we're not here to predict levels rather, formulate levels of interest in both directions. You see, we're neither bulls or bears, we're traders that use price action technical analysis to identify potential levels to trade.
Price may continue to chop between $150 - $175 all while creating false breakouts, traps, and dashed hopes for investors while traders can find many ways to benefit from the price movement.
Only time will tell for sure.
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