Target $TGT has recently broken below some key support factors. The daily chart below shows that last week, price fell below a 1) channel support, 2) the 200-, 100-, and 50-day simple moving averages (SMAs), and 3) a previous resistance pivot that could have acted as support.Target Daily Chart(click to enlarge)Breakout and Pullback:- The daily chart shows price now under those noted support factors.- We can also see that price has rebounded back to test these factors, now as potential resistance.- If price holds under this 58-60 area, TGT has downside towards the 49-50 area, which is the 52-week low.- If price climbs back above 60 however, we have to reassess the market as this could be a sign that TGT is still completing a price bottom and may be gearing up for a bullish trend.