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Target (TGT) Finding Buyers at Key Support so Far

Last time, we looked at $TGT and noted that it found resistance where we anticipated (63), and was heading to a channel support area. We noted support around 58, but TGT found buyers around 58.60 and is climbing back up. 

Target (TGT) Daily Chart

(click to enlarge)

Support and Scenarios:
- I think even if price comes down a little more, the bullish outlook is still valid.
- A break below 56 on the other hand would tell us the market is in a bearish continuation, and might extend the downtrend since 2015.
- Otherwise, there is upside towards 66.
- The weekly chart shows the prevailing downtrend.
- It also shows that a bullish outlook towards 66 is still within this bearish mode. 

Target (TGT) Weekly Chart

(click to enlarge)