Target Corp.
Target Stock Rises Toward 52-Week High
Consumer staples stocks, Target among them, jumped last week after Democrats captured the House and Senate in the midterms. Target then eased back, but it is moving higher again Monday and now sits roughly 3% below its 52-week high of about $170.75.
Monday's advance was much bigger than the stock's normal moves, roughly 2.4 times its typical daily change over the previous 20 trading days. Target also trades roughly 6.7% over its 20-day line, a sign that the climb has been quick.
Consumer Staples Rally Followed Midterm Results
Last week's jump matched a wider market surge after the elections, which put the Dow on pace for its best day in over a year and a half. Cheaper oil helped, since lower fuel costs can calm inflation fears. Crude dropped on hopes that the vote steers Washington toward ending the Iran war, with West Texas Intermediate falling 7.2% and Brent 8.5%.
On X, Iran's parliamentary leader, Mohammad Bagher Ghalibaf, argued that American voters had rejected war, writing "NO TO WAR." In a Financial Times interview, President Donald Trump said the U.S. stands ready to act if needed, though the need may not arise.
Target Stock Technical Read: Uptrend Extends
Target's chart shows a steady climb. After bottoming in May and dipping again in late October, the stock has recovered to roughly $165, near the top of its rebound range. All three major averages, the 20-, 50- and 200-day lines, sit below the share price, and the 50-day has climbed over the 200-day.
If Target ends a session beneath roughly $156.46, where the 50-day line sits, the latest gain would vanish. Keeping the stock above about $154.90, the 20-day line, would help the rebound hold.
TGT Shares Are Climbing
TGT Price Action: Target shares were up 5.06% at $166.43 at the time of publication on Monday. The stock is approaching its 52-week high of $170.75, according to Benzinga Pro.
