Back-to-School Stocks are Exploding – 8/16

That was fast.

On Tuesday, we highlighted a few back-to-school stocks.

All of which have been rocketing higher, including:

Company: Target (SYM: TGT)

As we said on Tuesday, After slipping from about $150 to $135.50, Target appears to have caught strong support dating back to late 2023.  It’s also oversold on RSI, MACD and Williams’ %R and could push aggressively higher, especially with back to school season already here.”

At the time, TGT traded at about $134. Today, it’s up to $140.66. From here, we’d like to see it retest $150 next. Even better, as noted by UBS:

We think Target’s setup heading into the second-quarter print [on Aug. 21] is favorable. The sentiment for the stock has been mixed. The market is grappling with recession fears, uncertainty related to tariffs, recent volatility in consumer spending, and the risk to the second-half outlook. We think this cautious sentiment has weighed on the stock, leading to an even more favorable risk-reward profile,” according to the firm, as noted by Barron’s.

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Company: Walmart (SYM: WMT)

On Tuesday, we noted, “Even Walmart is technically oversold at $67. It’s also just starting to pivot from over-extensions on RSI, MACD and Williams’ %R and could race back to $71 initially. Wells Fargo also just reiterated a buy rating on WMT with a $75 price target.”

At the time, WMT traded at about $67. Today, with earnings, it’s up to $73.26.

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Company: Amazon.com (SYM: AMZN)

“Even Amazon has become ridiculously oversold and over-extended on RSI, MACD and Williams’ %R. From its last traded price of $166.04, we’re looking for an initial bearish gap refill at around $185 near term,” we added.

From $166.04, it’s now up to $176.46 and should refill its bearish gap at $185.

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