Million

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Target Corporation (NYSE: TGT) reported quarterly earnings recently.&nbsp;</a> </li> 
 <li> 2 <a>TGT stock price is trading near its multi-year lows.&nbsp;</a> </li> 
 <li> 3 <a>At press time, Target Corporation (NYSE: TGT) stock price is trading at $124.1.</a> </li> 
</ul> 
The earnings season is here and companies across the industries are dropping their financial results for the quarter. Retail store giants Walmart Inc. (NYSE: WMT) and Target Corporation (NYSE: TGT) reported quarterly earnings around the same time. Though the earnings of both the companies had a disparity, both WMT and TGT stock prices saw a decline.&nbsp; 
WMT stock price is not a concern since it is doing well overall as it has already been <a href="https://www.thecoinrepublic.com/2023/08/24/will-walmart-wmt-stock-price-mark-record-high-of-162-again/" rel="noopener noreferrer nofollow">discussed</a>. TGT stock price, however, makes an intriguing case given the continued downfall. Currently, the Target stock price is trading around at multi-year lows.&nbsp; 
The earnings results for the quarter that ended in June 2023 have brought no reason to get an up move. Instead, TGT stock pushed below following the results.&nbsp; 
Target posted $24.7 Billion in revenue which was less than the previous year’s and subsequent quarter’s revenue. The retailer posted $835 Million in net income, less than the previous quarter.&nbsp; 
However, the company is working towards making things right by all means. The efforts towards adding more regional hubs to the supply chain are worth counting. For the last fivwe year, The Wall Street Journal reported, the company seeks a reduction in inventories and to make faster deliveries of online orders.&nbsp; 
The retailer is distancing itself from the tactic of using large warehouses that deliver online orders nationwide from a central location, the Journal said. 
The changes in logistics helped the company to improve its in-stock inventory rates for the quarter that ended on July 29, the Journal reported, adding that Target has recently added facilities called flow centers that use automation to break down shipments to replenish stores with demanded items more frequently. 
<h2 class="wp-block-heading" id="strong-target-corp-nyse-tgt-stock-price-movement-strong">Target Corp (NYSE: TGT) Stock Price Movement</h2> 
Currently, TGT stock price is trading at $124.1 following a slight uptick of 0.7% in the last intraday trading session on Thursday, August 24th. The stock lost up to 17% of its value since the start of the year.&nbsp; 
TGT stock is trending below the 50 and 200-day moving averages, with the 50-day EMA at $133 and the 200-day EMA at $149.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
 <img decoding="async" src="https://lh5.googleusercontent.com/y1CI-ipvwMnS_-q1RgeF6cNGFvwRKPgEZKLrsy5i4ZLnD3B7Ok6kMYq1lpeu8s_daWXTnPvr1Zr5-oEaYpo1ZRk0YtsXXN2L_wJbs_qj8zOE5ayjpaQ7RDCk3QSP32QxK7GFNkxmeavD2KP9v4IITfw" alt="TGT Stock Price at Multi-Year Lows, Should $120 Act as Support?"> 
 <figcaption class="wp-element-caption">
 Source: Target Corporation (NYSE: TGT) Stock Price Movement on <a href="https://www.tradingview.com/x/gbz3rxKO/" rel="noopener noreferrer nofollow">TradingView</a> 
 </figcaption> 
 </figure> 
</div> 
RSI is at 40 suggesting the stock is in the oversold territory while MACD is below the zero line affirming the bearish sentiment.&nbsp; 
The price level at $120 should act as immediate support for TGT stock to stop the freefall. However, even if the fall halts for the moment, the stock is likely to consolidate as any upswing is unlikely to take place ahead.&nbsp; 
<h5 class="wp-block-heading">Disclaimer</h5> 
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

TGT Stock Price at Multi-Year Lows, Should $120 Act as Support?

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