The question on everyone's mind: Will TJX COMPANIES INC breakout?

Our stock screener has spotted TJX COMPANIES INC (NYSE:TJX) 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:TJX.

Analyzing the Technical Aspects

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to TJX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TJX is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, TJX did better than 91% of all other stocks. We also observe that the gains produced by TJX over the past year are nicely spread over this period.
• TJX is part of the Specialty Retail industry. There are 133 other stocks in this industry. TJX outperforms 84% of them.
• TJX is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so TJX slightly outperforms the market at the moment.
• In the last month TJX has a been trading in a tight range between 86.71 and 91.18.

Our latest full technical report of TJX contains the most current technical analsysis.

Why is NYSE:TJX 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:TJX scores a 8 out of 10:

TJX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 89.60, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:TJX?

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.

Of course, there are many ways to trade or not trade NYSE:TJX and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.