Target Shares Slide 0.45% To $93.52 Amid Bearish Technical Signals

Target (TGT) shares declined 0.45% to $93.52 on June 5, 2025, marking the second consecutive down day and bringing the two-day loss to 2.36%. This consolidation near recent lows signals technical vulnerability amid broader bearish patterns observed across multiple indicators.
Candlestick Theory
Recent price action shows a bearish continuation pattern with TGT closing near session lows ($93.52 vs. $93.09 low) on June 5. This follows a long red candle on June 4 (-1.92%) that engulfed the prior session’s gains. The rejection near $96.43 resistance on June 3 established a near-term ceiling, while critical support emerges at the May 21 swing low of $90.60. A close below $93.09 could trigger acceleration toward this level.
Moving Average Theory
All major moving averages exhibit bearish alignment, with the 50-day SMA (approximately $100.40) below the 100-day SMA (~$110.20) and 200-day SMA (~$120.60). Current price trades 7-14% below these averages, confirming sustained downtrend momentum. The expanding distance between the 50-day and 200-day SMAs indicates accelerating bearish bias. No golden cross or supportive MA confluence is evident.
MACD & KDJ Indicators
The MACD (12,26,9) remains entrenched in negative territory, with the histogram showing sustained bearish momentum after a recent signal line crossover. KDJ readings are mixed: The %K line (25.1) and %D line (18.7) reside in oversold territory (<30), potentially signaling exhaustion. However, J-line divergence is absent. This creates tension between oversold conditions and entrenched bearish momentum.
Bollinger Bands
Bands have expanded significantly (20-day width: ~15% vs. 10% monthly average), reflecting rising volatility during the selloff. Price action consistently tests the lower Bollinger Band ($92.80 area), last breached intraday on June 5. While band proximity suggests oversold conditions, persistent closes below $93.00 imply unresolved selling pressure.
Volume-Price Relationship
Downside volume patterns lack conviction: The June 5 selloff occurred on 4.76M shares, below the 30-day average of ~6.2M. This divergence from the May 21 capitulation (27M shares at $93.01 close) suggests diminished selling intensity. However, bullish confirmation requires volume expansion above 7M shares on rallies.
Relative Strength Index (RSI)
The 14-day RSI (45.3) resides in neutral territory, diverging from oversold levels despite recent new price lows. This relative strength divergence suggests waning downside momentum. RSI must breach 30 to signal oversold conditions, while a sustained move above 55 would indicate momentum reversal.
Fibonacci Retracement
Applying Fibonacci to the key swing high ($167.40 on August 21, 2024) and subsequent low ($90.60 on May 21, 2025), critical retracement levels emerge: 23.6% ($108.72), 38.2% ($119.94). Current price trades below all major retracement zones, reinforcing bearish structure. Near-term resistance converges with the 38.2% level at $95.03 – a breakout above this zone could trigger short-covering toward $100.
Confluence & Divergence
Significant confluence exists at $90.60-$93.00, combining the May swing low, Bollinger Band support, and psychological support. Bearish alignment dominates overall structure, though oversold KDJ readings and improving RSI divergence provide early exhaustion signals. Critical watchpoints: A decisive break below $90.60 invalidates potential support, while a volume-backed close above $95.03 would challenge near-term bear control.