TJX - J. Maxx, Marshalls, and Home Goods brands UpdateTJX s is off-price retailer TJX Companies (NYSE:TJX), which owns T.J. Maxx, Marshalls, and Home Goods brands.
The chain, which offers a wide selection of well-known designer brands at a steep discount, is likely to benefit from the end of stay-at-home measures as consumers migrate to discount retailers in search of value, especially in light of still-extensive unemployment and the recessionary trend currently hitting global economies.
TJX
EXPLOSIVE EARNINGS! Charts Look Great. Strong BUYZumiez blew past earnings last night coming in .15 cents above consensus. The company also beat on revenue and raised full year results.
Zumiez also issued a $100 Million stock repurchase program through 2020.
Charts look great, PMO, MACD and RSI are turning up, POSITIVE.
Looking for a new 52 week high soon.
The stock was trading upwards of $55.00 a share a while back.
LONG
$TJX Long Idea NOV / DEC Seasonality Seasonally TJX is usually quite strong , earnings are coming up soon and they have announced a split as well. NOV I'm expecting to see some good numbers out of retail names $XRT and strong thanksgiving and Christmas sales as the consumer seems pretty strong. The risk to this setup is if TJX reports poor numbers then I can expect a retracement back to 101/102 if that breaks then $97 for further downside, but for upside I'm looking to target $119-121 by Christmas , if we get good earnings and follow through , but the markets need to cooperate. I'm playing this through DEC 115 calls at $2 , no stop loss for me only small position.
Remember this is not financial advice , just what I think.
TJX - short from 77.50 TJX forming a bear flag, it has a sharp drop & now consolidating. Money-flow has neg-divergence & going down in the negative side. It also has insider selling.
We think it will decline from here & can drop as low as 73
You can check our detailed analysis on TJX in the trading room/ Executive summery link here-
www.youtube.com
Time Span: 3:10"
Trade Status: pending
Potential Bullish Bat Pattern on TJXBullish Bat Pattern on TJX if price reaches 56.63. We saw increased volume on the advance of the 'XA' leg and lower volume behind the decline to pattern maturity. There also is bullish momentum divergence from the last swing point within the 'D' leg of the pattern to where price is currently.
There also seems to be a rough bat pattern behind this pattern that started with the October 8th lows - with rejection candles that probed previous highs of that 'XA' leg ; however, the 'D' point of that pattern, (or the 'X' point of this pattern) never officially touched the .886 retracement level - but is still worth noting in my opinion.
Entry: 56.63
Stop Loss: 55.72
Profit Target: 58.45
Risk/Reward: 1:2