Chart of the Day: After TJX Reports, the Trend Looks Positive
The company is fearful of tariffs and the negative implication on margins and customers.
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We have been watching this bullpen name for awhile. TJX Companies TJX just reported a solid quarter with beats on the top and bottom lines and left its guidance for the year unchanged.
Even so, the company is cautious about the future with so many uncertainties abound. All divisions in the company posted strong sales gains.
The chart does look appetizing, with a nice uptrend in place. Higher highs and higher lows indicate this is the trend and dip buyers have been coming in with an appetite for shares since the dip in mid-March.
The indicators are strong with a buy signal on MACD (though it may be rolling over soon), and strong momentum via the stochastics. Candles are bullish (blue or teal) while volume trends have been very strong.
Maybe another modest pullback would be the place for us to pull the trigger, but we continue to watch.
