TopOptionAlert
$TGT NOV20 160C · still actionable
Zone: $152.22 to $154.36
Invalidation: close under $150.50
Objectives: $159.56, then $165.70
The math: up 4.1% to the first objective and 8.1% to the second, against 1.8% risk on the invalidation, better than 4 to 1 to the second
Picture a shopper who keeps coming back to the same aisle because the shelf held every time she checked. Target has slipped back toward the $150.50 low from October 12 and that floor still held today, and what that means is sellers pushed and buyers still showed up near the same place. This is a swing setup into earnings on November 18, with room first back toward the October 16 high if that floor keeps doing its quiet work. Would you rather chase after a break or work from a floor you can actually point to?
P.S. The $150.50 floor held near the same place on October 5, October 8 and October 12, which is why that line matters more than any single green day.
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