Buy Alert: February 13, 2017

| February 13, 2017

Buy Alert:  February 13, 2017

 

Trade Details

Buy Target (TGT) April 21, 2017 $67.50 Calls up to $1.60 or better (lower)

 

Why?

Since the beginning of the year, Target has been taken to the woodshed by investors.

The stock originally peaked out at almost $74 a share in early January… and since then, the stock has slowly slid to the recent lows.  Investors were not impressed with the holiday performance of the company.  The stock fell hard.

Trading volumes have stabilized, and the stock is showing some life.

After trading just below $64, this week we had a glimpse of the upside.  The stock now pays a nice 3.4% dividend yield which will create a natural floor to the stock.

This is a buying opportunity and Target is a great stock trading at depressed levels.

We could see this stock drift higher in the next few months.  Look at resistance levels (and exit points) to be $68 and $70.  Support levels and exit points on the downside will be $62 and $60.

 

Recent Activity

Target

 

Category: OTW Buy Alerts