4 Trade Ideas for Target: Bonus Idea

• Posted by Greg Harmon
• on March 30th, 2026

Here is your Bonus Idea with links to the full Top Ten:

Target, $TGT, comes into the week pressing against resistance after a short pullback to the 50 day SMA. It has a RSI rising in the bullish zone with the MACD positive and curling to cross up. There is resistance at 121.50 and 127.25 then 128.50 and 133 before 137 and 142.50. Support lower is at 118.25 and 115.50 then 112.75. Short interest is moderate at 4.1%. The stock pays a dividend with an annual yield of 3.81% and will trade ex-dividend on May 13th.

The company will report earnings next on May 19th. The April options chain shows biggest open interest at the 115 and 110 put strikes and at the 115 and 110 strikes below and 120 above on the call side. In the May chain open interest is biggest at the 105 and 90 put strikes and at 125 on the call side. Finally, the June chain shows open interest spread from 110 to 80 on the put side and from 110 to 130, biggest by 2x at 130, on the call side.

Target, Ticker: $TGT

Trade Idea 1: Buy the stock on a move over 121.50 with a stop at 116.50.

Trade Idea 2: Buy the stock on a move over 121.50 and add a May 115/105 Put Spread ($2.54) while selling the June 140 Call ($1.94).

Trade Idea 3: Buy the April/May 125 Call Calendar ($1.97) while selling the May 105 Put ($1.46).

Trade Idea 4: Buy the June 105/125/140 Call Spread Risk Reversal ($1.05).

Premium Content

The Best

The Rest Premium

Free Content

The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with just 2 trading days left in the 1st Quarter, saw equities at 7 month lows and breaking lower after several weeks of body blows.

Elsewhere, look for Gold to continue to consolidate in the pullback while Crude Oil continues to churn around $100 per barrel. The US Dollar Index looks to continue to press on resistance in consolidation while US Treasuries move to the downside nearing 8 month lows. The Shanghai Composite looks to continue a short term downtrend while Emerging Markets pullback in their uptrend.

The Volatility Index looks to continue in elevated territory putting pressure on equities. The charts of the SPY and the QQQ are now cracking on the longer timeframe with bearish momentum while the IWM is threatening its uptrend. On the shorter timeframe the SPY and the QQQ are showing signs of a wash out with downward gaps in the charts while the IWM holds up with relative strength over is long term moving average in a short term downtrend. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus