Excessively oversold shares of Target (TGT) are just starting to pivot higher.

Last trading at $130.46, we’d like to see it refill its bearish gap at around $155 – especially as we get deeper into the holiday season. It’s also just starting to pivot higher from over-extensions on RSI, MACD and Williams’ %R.  Plus, the last time TGT became this oversold in August, it eventually rallied from a low of about $130 to $165 weeks later.

Start pulling in more than a part time job. In about 5-10 min a day you can make more than most sidehustles. Click here to check it out for just $1.

Even better, analysts at Oppenheimer just reiterated an outperform rating on TGT with a price target of $165 a share. 

As noted by Investing.com, “Oppenheimer cites several reasons for its positive outlook on Target. The firm believes that the stock is at or near a bottom and that the negative sentiment among investors could be an upside opportunity. Additionally, Oppenheimer views the company’s fourth-quarter guidance as achievable and suggests that a 6% operating margin is still a realistic goal. The attractive dividend yield also offers potential support for the stock’s value. The firm is optimistic about the upcoming 2025 analyst day, which it considers could be the next significant catalyst for Target’s shares.”

Again, we’re looking for an initial retest of $155 on TGT as we get deeper into the holidays.

Sincerely,

Ian Cooper