Chart of the Day: Can TJX Show Strong Growth in a Tough Environment?
The chart tells us the stock continues to remain robust and resilient.
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Even during the most recent market pullbacks we saw TJX Cos. (TJX) continue making new highs on good volume. That simply means big buyers are still interested in this stock at higher prices, a good sign for continuation.
The indicators are bullish as well, with the candles in blue, which says strongly bullish on the GoNoGo composite of indicators. Moving average convergence divergence (MACD) is on a buy signal while the Chaikin money flow remains bullish.
One thing to note is the parabolic SAR, which has been bullish mostly for this latest run higher in the stock. This indicator seems to really pace the action for TJX. When it is bullish, so is the stock.
In a world where consumer spending seems to be slowing down, that does not seem to be the case at TJX. With the important holiday shopping season coming up soon we'll hear from the company this week (earnings are Wednesday) to see how they view the consumer, inventory, tariffs and pricing.
We like TJX in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
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At the time of publication, TheStreet Pro Portfolio was long TJX.
