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In-Depth Technical Analysis of BJ'S WHOLESALE CLUB HOLDINGS.

By Mill Chart

Last update: Apr 4, 2024

Our stock screener has identified BJ'S WHOLESALE CLUB HOLDINGS (NYSE:BJ) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:BJ.

BJ Daily chart on 2024-04-04

Insights from Technical Analysis

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, BJ scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BJ is only an average performer.

  • The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
  • BJ is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BJ is lagging the market slightly.
  • When comparing the performance of all stocks over the past year, BJ turns out to be only a medium performer in the overall market: it outperformed 54% of all stocks.
  • BJ is part of the Consumer Staples Distribution & Retail industry. There are 41 other stocks in this industry, BJ did better than 62% of them.

For an up to date full technical analysis you can check the technical report of BJ

Why is NYSE:BJ a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:BJ scores a 9 out of 10:

BJ has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 71.95, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BJ in the last couple of days, which is a good sign.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.

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BJ'S WHOLESALE CLUB HOLDINGS

NYSE:BJ (5/29/2024, 7:04:00 PM)

After market: 84.85 0 (0%)

84.85

-2.28 (-2.62%)

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