NYSE:BJ may be ready to breakout.

BJ'S WHOLESALE CLUB HOLDINGS (BJ)       72.81   -1.66 (-2.23%)

After market: 72.81 0 (0%)


News Image
NYSE:BJ may be ready to breakout.9 days ago - Chartmill

Our stock screener has spotted BJ'S WHOLESALE CLUB HOLDINGS (NYSE:BJ) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:BJ.

BJ Daily chart on 2022-09-23

Technical Analysis Observations

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 9 out of 10 to BJ. Both in the recent history as in the last year, BJ has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
  • Looking at the yearly performance, BJ did better than 95% of all other stocks. We also observe that the gains produced by BJ over the past year are nicely spread over this period.
  • BJ is part of the Food & Staples Retailing industry. There are 43 other stocks in this industry. BJ outperforms 95% of them.
  • BJ is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
  • In the last month BJ has a been trading in the 70.16 - 79.69 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:BJ this score is currently 8:

Besides having an excellent technical rating, BJ 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 a support zone below the current price at 74.99, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

Back

BJ Links

BJ News

News Image2 days ago - ChartmillBJ'S WHOLESALE CLUB HOLDINGS is setting up nicely for a breakout.News Image3 days ago - ChartmillWill BJ'S WHOLESALE CLUB HOLDINGS breakout?News Image3 days ago - Investor's Business DailyHome Depot Stock, Related Retailers Surge As Hurricane Ian Hits Florida

Home Depot, Lowe's and Generac stocks surged in preparation for the Category 4 storm.

News Image4 days ago - ChartmillNYSE:BJ may be ready to breakout.News Image4 days ago - InvestorPlace7 Large-Cap Sleeper Stocks to Buy Before Wall Street Wakes Up

The Street's overly pessimistic macro view is providing investors with a number of large-cap sleeper stocks to buy on sale.

News Image6 days ago - BJ’s Wholesale ClubBJ’s Wholesale Club Announces Opening Date for its First Indiana LocationNews Image8 days ago - TheNewswire.comCBOE's Weekly Market Recap: Sept. 12-16

Last week, the SPDR S&P 500 ETF (NYSEARCA: SPY) experienced its third-largest decline since January, ushering in a wave of selling and bearish sentiment.

News Image9 days ago - MarketBeatIs Costco’s Post-Earnings Price Weakness A Good Time To Buy?

Costco shares are falling because the Q4 results were priced into the market and the decline could gain momentum if a key level is breached.

News Image9 days ago - ChartmillNYSE:BJ may be ready to breakout.News Image11 days ago - Investor's Business DailyCostco Stock: Costco Earnings Due Amid Membership Price Hike Buzz

Costco shares are struggling but haven't broken down.

News Image16 days ago - BJ’s Wholesale ClubBJ’s Wholesale Club Now Accepts Online SNAP EBT Payments ChainwideNews Image23 days ago - BJ’s Wholesale ClubBJ’s Wholesale Club to Open its Newest Club Location in Canton, Michigan on Friday, September 9

Follow us for more