Is TJX COMPANIES INC Ready to Break Out of Its Range?

We've identified TJX COMPANIES INC (NYSE:TJX) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:TJX for further developments.

Insights from Technical Analysis

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall TJX gets a technical rating of 8 out of 10. Both in the recent history as in the last year, TJX has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, TJX did better than 85% of all other stocks. On top of that, TJX also shows a nice and consistent pattern of rising prices.
• TJX is part of the Specialty Retail industry. There are 131 other stocks in this industry. TJX outperforms 84% of them.
• TJX is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so TJX is performing more or less in line with the market.
• In the last month TJX has a been trading in a tight range between 86.92 and 91.64.

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

How does the Setup look for NYSE:TJX

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:TJX currently has a 8 as setup rating:

Besides having an excellent technical rating, TJX also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 92.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 90.25, a Stop Loss order could be placed below this zone.

How can NYSE:TJX be traded?

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 screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.