Target Q1 Preview: Where next for Target stock?
Joe Perry May 16, 2022 2:10 PM
Things are set to become tougher in 2022 as the acceleration in sales unwinds and the company battles against rising costs across the board.
When will Target release Q1 2022 earnings?
Target is scheduled to release Q2 earnings before the markets open on Wednesday, May 18th, 2022.
Target Q1 earnings preview
Wall Street currently believes Target can meet its goals and grow sales by 3.8% and adjusted EPS by 9.1% this year.
Where next for Target stock?
Targets stock price has been trading in a wide range over the last year between 184.00 and 268.98. On February 28th, price gapped higher 199.77 to 226.83, and has still yet to fill the gap. TGT reached a near term high on April 21st and has sold off aggressively since then. First support is at the 61.8% Fibonacci retracement level from the lows of February 28th to the highs of April 21st, near 210.90. If price continues to move lower, horizonal support is at 205.22, then the gap fill from February 28th at 199.77. However, if price reverses and moves higher, first horizontal resistance is at 223.20, just ahead of the 50 Day Moving Average at 224.73. If price breaks above there, the next resistance isn’t until the 200 Day Moving Average at 234.04.
Source: Tradingview, Stone X
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