A reasonable
target on a pullback would be for the SPY to fill the gap at $ 242, which would alleviate the market's overbought condition and set up for a decent rally after.
Not exact matches
For one, Wall Street is applauding the
pullback:
Target shares rose nearly 3 %
on the news and there is the sense that
Target investors feel they are ridding themselves of an albatross.
Also, you may want to review how we gained 19 % in just 6 days with $ JO, as the ETF may again be setting up for potential buy entry
on its current
pullback (subscribers of The Wagner Daily newsletter will be notified of our exact buy trigger, stop, and
target prices if / when we re-enter $ JO).
Shareholders should also be prepared for even further declines, because even after today's
pullback, the price
target that MKM put
on Kors implies another 20 % of downside potential for the stock.
The
pullback and reversal gives a
target on a Measured Move to 272.80.
Watch for price action buy signals
on a
pullback to that 1320 — 1307 support area this week and
target resistance up near 1365.