NEW BULLISH Plays
The TJX Companies - TJX - close: 47.45 change: +0.31
Stop Loss: 46.45
Current Gain/Loss: unopened
Entry on April -- at $--.--
Listed on April 08, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.7 million
New Positions: Yes, see below
Why We Like It:
Shares of TJX, a discount apparel and fashion retailer, are poised to breakout. Investors do not see concerned that consumer spending might be slowing down or what the U.S. retail sales numbers for March might be when they come out on Friday. At the moment, TJX is on the verge of breaking out from its $46.50-47.50 trading range, which could push the stock to new all-time highs.
The intraday high on April 3rd was $47.58. I am suggesting a trigger to open bullish positions at $47.75. If triggered our target is $52.00. However, there is a risk that the $50.00 mark could be round-number resistance.
Trigger @ 47.75
Suggested Position: buy TJX stock @ (trigger)