TGT - Target Breaking 50 Year Support
Very important day for Target, as it breaks a key 50-year trendline after it has already lost -50% from ATH.
Now crossing a line in of itself is not a big deal. However, how it breaks and what structure it forms after the break matters a lot. This is the 3rd time since 2017 it has tested the trend line. The last time it broke in 2008 it lost 50% of its value. This time may be no different.
The nice thing about Key areas is the risk-reward. Bulls may want to buy, while others may want short.
From my perspective taking everything into consideration (Message of the market, economy, retail, money expansion etc..) I would take the short and force the burden of proof on the bulls to push the price back into structure.
From a different perspective, TGT breaking this key area is bad JUJU for the economy. The consumers may be in trouble along with the unemployment rate.
Now crossing a line in of itself is not a big deal. However, how it breaks and what structure it forms after the break matters a lot. This is the 3rd time since 2017 it has tested the trend line. The last time it broke in 2008 it lost 50% of its value. This time may be no different.
The nice thing about Key areas is the risk-reward. Bulls may want to buy, while others may want short.
From my perspective taking everything into consideration (Message of the market, economy, retail, money expansion etc..) I would take the short and force the burden of proof on the bulls to push the price back into structure.
From a different perspective, TGT breaking this key area is bad JUJU for the economy. The consumers may be in trouble along with the unemployment rate.
Catatan
BINGO!Catatan
Target is down another 3.5% today.
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Real Macro Economic Investing
patreon.com/Realmacro
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.