Shares of Target Corporation (NYSE:TGT) to tumble but their may be a glimmer of hope for investors. The retailer is now into the $55.00 level, a major low from February 2014. This will act as good support for the stock price and likely lead to a near-term bounce. Investors should now feel confident in buying shares, looking for the stock to bounce back towards the $62.00. Retailers have been oversold based on poor earnings and fear President Donald Trump will impose tariffs on imports. This would hurt retailers in a major way. While investors buying Target Corporation at $55 should be aware of the possible tariffs, the price already reflects near the worst case scenario. This means there is limited downside in the share price even if tariffs are imposed.

Stock chart of Target Corporation hits major support for buy