TGT Long Idea
TGT has been on a bull run the past few weeks and it currently trading at ATH. Price just broke ascending triangle, gapped up and now is on a bull flag setup.
1. Price trading at ATH and now forming a bull flag.
2. Caution; Red candle on the 1hr chart with big red volume. Price might do a quick retest on 207-206 area for the next move up. However, on a longer term, daily candle shows big green candle with a bigger than last green volume. (bullish, mid term)
3. RSI on Daily and Hourly time frame is around the 70 level. (near overbought)
Scenario:
1. Breakout play; entry zone just above 209.59 resistance level.
2. Pullback play; entry once price gets rejected from the 206-207 resistance area.
Target1; 215.80 area with rejection candle
Target2: 219.63 with trend continuation.
1. Price trading at ATH and now forming a bull flag.
2. Caution; Red candle on the 1hr chart with big red volume. Price might do a quick retest on 207-206 area for the next move up. However, on a longer term, daily candle shows big green candle with a bigger than last green volume. (bullish, mid term)
3. RSI on Daily and Hourly time frame is around the 70 level. (near overbought)
Scenario:
1. Breakout play; entry zone just above 209.59 resistance level.
2. Pullback play; entry once price gets rejected from the 206-207 resistance area.
Target1; 215.80 area with rejection candle
Target2: 219.63 with trend continuation.
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