Retail stocks have shown some power since the spring, and Target (TGT) has been one of the better performers in the space. For all the earnings challenges Target has faced over the past couple of years, along with crushing competition from both sides (Amazon and Walmart), it’s a tribute to management that the stock is not just thriving but looking like it will go even higher.

The bottom pane on the chart shows strong money flow after a pause in July. A bullish pennant pattern is forming, which indicates consolidation off the spectacular move post-earnings. The MACD is on a confirmed buy signal, while the RSI is overbought. This means the stock could go sideways for a bit before following the yellow bars up to new highs. I believe the stock could eventually make its way toward 100.