A potential bullish flag on KSS

Question: Does KSS (Kohl's) have a flag formation, and if so, when would we know if it is valid? I think it's worth around $30/sh fundamentally.

After a high volume upside gap in late November, Kohl's (KSS) may indeed be forming a December into January bullish flag pattern.

To validate this positive setup, KSS must regain the rising 40-day moving average at 21.13 and the flag downtrend line near 22.00, preferably on higher volume. A push above the last tactical lower high at 22.32 (1/6/2025) would provide additional confirmation.

Completing this bullish flag would suggest upside potential to 25.22-26.25 (top of the flag and 61.8% extension), 29.45-29.65 (August 2023-April 2024 peaks), and 30.57 (100% extension and flag target).

Until a decisive flag breakout occurs, the upper end of the late November upside gap and prior highs from late November into mid September offer key support at 19.37 down to 18.25. If a move below this area occurs, it would likely invalidate the developing flag formation on KSS.

Chart 1:  Kohl's (KSS)