Tomorrow, Target Corp is expected to report quarterly earnings of $1.4 on revenue of $30.65bn. Currently, target’s shares are trading at around $166.94 a share.

Tomorrow, Target Corp is expected to report quarterly earnings of $1.4 on revenue of $30.65bn. In the final quarter of 2022, it missed its estimated earnings by $0.62, however, it beat its revenue expectation of $26.39bn. We can see that currently, target’s shares are trading at around $166.94 a share. The channel drawn on the chart (daily interval) highlights that there isn’t any clear direction at the moment. The key support level sits at $139.67 with tough resistance above at 183.88. There were two occasions where the stock’s price attempted a break above but failed, first one was on the 15^th of November, 2022 when the price reached a high of $180.46. Followed by an attempt on the 2^nd day of this month, where the price reached a high of $181.67. A positive earnings report could potentially create momentum for another re-test in the next week or two, a break and close above $183.88 may see the price climb higher towards $190-$195. On the other hand, a weaker-than-expected report could see the price decline once again towards that $140-$150 price range. Looking at the technical indicators, MACD is currently negative but RSI is neutral as it reads 47.