Target Stock Rises 4.10% In Two Sessions Amid Technical Rebound Signals

Target (TGT) shares edged up 0.03% to $97.35 on June 9, 2025, extending gains to 4.10% over two sessions. This tentative rebound occurs within a broader technical context characterized by dominant bearish trends, though recent price action suggests potential short-term stabilization.
Candlestick Theory
The June 6th session formed a decisive bullish marubozu candle (open near low, close near high) after testing the critical $94.45 support, signaling strong buyer conviction. The subsequent June 9th candle printed a small doji with a long upper wick at $99.36, indicating rejection at this resistance zone. This level now forms immediate resistance, while $94.45 establishes a significant higher low support. The pattern suggests indecision after a sharp rebound, requiring confirmation for directional conviction.
Moving Average Theory
A pronounced bearish alignment persists, with the 50-day MA (~110.20) below both the 100-day (~115.80) and 200-day MA (~126.40). Prices remain suppressed beneath all three key moving averages, confirming the primary downtrend. However, the recent bounce has pushed the price above the 10-day EMA ($96.20), hinting at nascent short-term momentum. Sustained trade above the 50-day MA would be necessary to signal trend reversal potential.
MACD & KDJ Indicators
MACD (12,26,9) shows a developing bullish crossover, with the histogram ascending from deeply negative territory as the signal line converges. Meanwhile, the KDJ oscillator has exited oversold conditions – the %K line crossed above %D from sub-20 levels during the June 6th rally. These synchronous improvements in momentum oscillators suggest growing upside pressure, though the MACD’s position below zero emphasizes this as a counter-trend bounce.
Bollinger Bands
The bands expanded sharply during the May sell-off, reflecting elevated volatility. Prices recently rebounded from the lower band ($94), retesting the midline (20-day SMA at ~$97.80) on June 9th. This rejection highlights the midline as dynamic resistance. Bollinger bandwidth contraction began in early June, implying decreasing volatility that often precedes directional resolution.
Volume-Price Relationship
The June 6th 4.06% surge occurred on 7.82 million shares – the highest volume in three weeks – validating buyer conviction. The subsequent sessions showed declining volume during consolidation, suggesting limited follow-through. However, the absence of selling pressure on pullbacks is notable. Earlier breakdowns (e.g., May 21st’s 5.21% drop on 27M shares) demonstrated high-volume capitulation, contrasting with the current lower-volume rebound.
Relative Strength Index (RSI)
The 14-day RSI rebounded from oversold extremes (reaching 27.5 in late May) to current neutral territory (~45). While this recovery implies waning downward momentum, it remains below the bullish threshold of 50. The exit from oversold aligns with the price rebound, though the RSI hasn’t reached overbought to signal exhaustion, allowing room for further near-term upside.
Fibonacci Retracement
Measuring from the April 9th peak ($156.84) to the June 6th trough ($94.45), key levels emerge: 23.6% ($99.36) provided resistance on June 9th, aligning with the session high. The 38.2% level converges with the 50-day MA at $105.50 – a formidable resistance cluster. The 61.8% retracement ($121.60) aligns with the March swing high, creating a major technical barrier if recovery persists. The precise rejection at $99.36 confirms this Fibonacci level’s tactical relevance.
Confluence and Divergence
Notable confluence exists between the Fibonacci 23.6% resistance ($99.36) and the Bollinger midline (~$97.80), explaining the June 9th rejection. The alignment of MACD/KDJ bullish crossovers with RSI recovery and volume confirmation on the initial bounce strengthens the case for short-term upside continuation. However, the bearish MA structure diverges from momentum improvements, emphasizing that sustained recovery requires conquering the $99.36-$105.50 resistance zone. Watch for volume expansion on decisive breaks for confirmation of sustainability.