Undervalued positions do not stay undervalued for long
Eventually the market finds them and buys.
$TGT smashed their earnings with a small blemish that guidance will not be as strong towards the end of the year, regardless, up +14% now in the PM.
I have one buy in here already with an average of $144, so I am happy with the +14% jump this morning and will wait for the pull back to add again.
We are likely starting Wave 3 now, so this bounce now will only be subwave 1 of Wave 3, so there will be a subwave 2 pull back
If you did not buy before earnings then I suggest waiting for your entry, when I see the start of a pull back, I will add the standard pull back Fib levels
The 50 WMA at $144 will not be too far from where our target will be
Brian
2024-08-21 15:06:23 +0000 UTC