Long Position on TJX @ $79.00 on 11/22/2022 (Momentum)


The TJX Companies, Inc. (TJX operates as an off-price apparel and home fashions retailer. Stockwinners

It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International.

The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; and other merchandise.

As of February 23, 2022, it operated 1,284 T.J. Maxx, 1,148 Marshalls, 850 HomeGoods, 59 Sierra, and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 293 Winners, 147 HomeSense, and 106 Marshalls stores in Canada; 618 T.K. Maxx and 77 Homesense stores, as well as tkmaxx.com in Europe; and 68 T.K. Maxx stores in Australia. 

Shares have formed a bullish "cup and handle" and higher share prices are expected. On November 16th, TJX Companies (TJX) reported 3rd Quarter October 2022 earnings of $0.86 per share on revenue of $12.2 billion. The consensus earnings estimate was $0.80 per share on revenue of $12.3 billion. 

 

Entry Point: $79.00

Stop Loss: $75.50

Trading Range: $53.69 - $79.99

Target Price: $87.00

Position closed on 12/28/2022 at price of $79.00 with a 0.00% gain in 35 days.

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