Target (TGT): Tactical base breakout watch

There is interest in the chart for Target (TGT), which is a name we have been watching for bottoming signs.

TGT could achieve a breakout from an April 2025 into January 2026 tactical bottom on a close above 108.90 this week. If this happens, the stock could see a stronger rally to the key retracement levels for the April 2024 into November 2025 decline at 121.03 (38.2%), 132.65 (50%), and 144.26 (61.8%), with a test of the declining 200-week moving average at 139 not ruled out.

Until then, the prior high from late October at 99.49, which the stock decisively cleared in late December, offers key support ahead of the upwardly shifting 13-, 26-, and 40-day moving averages (DMAs) at 96.35-95.55. This improvement in the DMA is confirming a tactical bullish shift for TGT.

TGT has crossed above its 13-, 26-, and 40-DMAs relative to the S&P 500, which is an encouraging signal that confirms the recent move above the absolute price DMAs.

Chart 1: Target Corp. (TGT) (top) and relative to the S&P 500 (bottom)