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Target Could Trade Sideways Before Its Next Sustained Move

Bruce Kamich

In this daily bar chart of TGT, below, we can see three significant price gaps. The trading volume does not show a bullish nor bearish pattern in my opinion, and the daily On-Balance-Volume (OBV) line did move above the April high but has not broken above the September peak for this indicator. The trend-following Moving Average Convergence Divergence (MACD) oscillator has recently crossed to the downside for a take-profits sell signal.