Keep an eye on oversold shares of Target (SYM: TGT).
After gapping from about $155 to $144 after guiding below estimates, it appears to have caught strong support. It’s also over-extended on RSI, MACD, and Williams’ %R.
However, the company did note that it is seeing sustained improvement in multiple business drivers, and that business trends continue to stabilize. It’s also planning to cut more prices, and could soon increase its quarterly dividend, which currently yields about 3.05%. In addition, TGT could soon resume its buybacks this year.
While investors wait for the rebound, they can collect its current yield.
