RSI Above 70: TGT Getting Frothy at $169.89
Target Corp (TGT) ticked higher by 2.69% to $169.89 on August 24.
Key indicators suggest a bullish bias:
Momentum
RSI at 78.6 is elevated in overbought zone, which often precedes pullbacks. MACD is bullish (6.46 vs signal 5.17).
Moving Averages
Bullish EMA alignment intact with price above the 9-day at $159.05 and 21-day at $152.58.
Volatility
Price is extended above the upper Bollinger Band ($165.58), suggesting possible mean reversion.
The bullish trend is intact, but overbought momentum readings suggest waiting for a pullback.
Watch $138.85 as support and $165.58 as resistance.
