The 50-day moving average is a short- to mid-term trend indicator. When a stock is above its rising 50-day MA, it has about a 67% chance of closing higher the next day. That trend flips bearish when the 50-day is sloping downward. This “technical rule” can be used effectively on stocks, ETFs and market indices.

Shares of Target (TGT) are selling at a bit of a discount—but that discount is shrinking. The retailer’s stock was up more than 2% in recent trading. At its current level near $95, Target is still below the price just above $98 at which it closed Tuesday before reporting its latest financial results—but also substantially off the sub-$91 lows it