The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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TJX Companies Inc. (TJX) Technical Analysis

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Summary:
Weekly :
Daily :Stochastic has raised above the signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
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It was a first positive week for the TJX Companies Inc. (TJX). During the week, the TJX gained 1.64 points, or 1.71%, and closed at 97.55 on Friday, March 15, 2024. It was the best weekly gain since January 12, 2024. TJX was trading at average weekly trading volume.

Long-term trend: [See TJX long-term trend chart]
A long-term uptrend had started on May 17, 2022 at 53.69 and reached 102.84 on February 28, 2024. TJX gained -49.15 points, or -91.54%, in 93 weeks. The price is now at the 10.76% retracement level.

Medium-term trend: [See TJX medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 86.71 and reached 102.84 on February 28, 2024. TJX gained -16.13 points, or -18.60%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 88.77 and resistance is at 104.36. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See TJX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See TJX short-term trend chart]
A short-term downtrend had started on February 28, 2024 at 102.84 and reached 95.56 on March 11, 2024. TJX lost 7.28 points, or 7.08%, in 12 days. The price is now at the 27.34% retracement level.

Daily Technical Indicators: [See TJX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.47
Williams' Percentage Range (W%R) 62.10
Lane's Stochastic (%D-Slow) 54.97
Greed/Fear Indicator (GFI) 45.12
Moving Average Converg./Diverg. (MACD) 0.29
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.07
Williams' Percentage Range (W%R) 28.40
Lane's Stochastic (%D-Slow) 70.83
Greed/Fear Indicator (GFI) 67.06
Moving Average Converg./Diverg. (MACD) 2.93
Trading Signals
Description Value Chart
Weekly Trendline Resistance 104.36
Upper Bollinger Band 100.38
Weekly Stochastic Crossing 100.00
20 Day Moving Average 98.09
Daily Stochastic Crossing 97.59
Price 97.55
50 Day Moving Average 96.74
Parabolic System 95.71
Lower Bollinger Band 94.85
Weekly Trendline Support 88.77
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Apparel Retail 86
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 102.84
High Date 02/28/2024
Low 95.56
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 104.36
Support 88.77
Low 86.71
Low Date 10/06/2023
High 102.84
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 72.92
Low Date 03/13/2023
High 102.84
High Date 02/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.69
Low Date 05/17/2022
High 102.84
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.72
Low Date 03/23/2020
High 102.84
High Date 02/28/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.