On Target

"Gentlemen, this is bulls-eye!"
--Comander Tom 'Stinger' Jordan (Top Gun)

Building on yesterday's pretty chart pattern, Target (TGT) traced out a nice multi-month reverse head-and-shoulders formation before today's bullish earning's report popped the stock 5% today.

The stock has also filled the gap from last November caused by the negative tone of the previous earnings report. Once again demonstrating the old technical analysis saw that price gaps are ultimately meant to be filled.

position in TGT