Target $TGT has been consolidating for most of 2017 and this consolidation could become an inverted head and shoulders pattern. Target (TGT) Daily Chart(click to enlarge)Price Bottom?- It does look like TGT could be bottoming.- It has been in a bearish trend since 2015, when price almost reached 86. It looks like price found support at 50 in 2017.- The neckline is right around 59, and price appears to be cracking it.- The RSI looks bullish as well as it has tagged above 70, and since held above 40. - However, the breakout is not convincing and price is retreating.- If price holds above 56 and the RSI holds above 40, then the bullish outlook is still valid. - However, a break below 56 could open up a bearish outlook. We would also have to monitor the support pivot at 54. - I think there will be a lot of choppiness ahead and the market is at the crossroad between completing a price bottom and continuing the prevailing downtrend.- I think a slide below 54 would open up 50 and lower, while a hold above 56 puts the 66 area in sight.