2 Stocks Popping Off Right Now - 8/22

Company: Target (SYM: TGT)

Look at Target (SYM: TGT) today.

Just days ago, we said “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 $134. Today, thanks to earnings, it’s up to $161.50 and rocketing.

Helping, the company just beat earnings and revenue expectations. 

EPS of $2.57 beat expectations for $2.18. Revenue of $25.45 billion was also better than estimates for $25.21 billion. Same-store sales were up 2%, “the first time in five quarters that Target posted a gain,” added CNBC.  

Also, as expected back-to-school trends helped.

“Back-to-school has also been an important season for the retailer. Chief Commercial Officer Rick Gomez said on the call with reporters that the shopping season has matched Target’s expectations, as many customers gravitate toward items with good value like backpacks that cost $5 and crayons that cost 25 cents,” added CNBC.

Company: Walmart (SYM: WMT)

Even Walmart (SYM: WMT) popped.

Days ago, we said, “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 $67. Today, it’s up to about $75 and still running.

If you bought into TGT or WMT, we’d love to hear how you did.  

Congratulations on the quick wins.