Give Target Its Due

It's an Amazon (AMZN) world and we're just living in it. That's only partially true in my view. Target (TGT) is set to report earnings next week and I think we'll see there's room in the world for a few more names in addition to AMZN. 

After an early June drubbing, Target has found some buyers for its shares. Buyers have been steady over the past month and have moved Target above the resistance levels of May and June. Past resistance should convert to support. I'm keying on the 20-week simple moving average (SMA) as secondary support. It has had an influence on major moves over the past year, so the simple fact price is well above the 20-week SMA is a big positive. ...265 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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