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Downtrend ResistanceArchive
- 4/26/2024 -
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TJX Companies Inc. (TJX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the TJX Companies Inc. (TJX). During the week, the TJX gained 3.00 points, or 3.21%, and closed at 96.36 on Friday, April 26, 2024. It was the best weekly gain since January 12, 2024. Weekly volume was 9% above average.
 Long-term trend: [See TJX long-term trend chart]
A long-term uptrend had started on March 13, 2023 at 72.92 and reached 102.84 on February 28, 2024. TJX gained -29.92 points, or -41.03%, in 50 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 89.31 and resistance is at 104.00. 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 below its signal line since March 28, 2024. The distance between MACD and the signal line is relatively high and getting bigger. 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 March 28, 2024 at 102.04 and reached 92.35 on April 19, 2024. TJX lost 9.69 points, or 9.50%, in 22 days. The price is now at the 41.38% retracement level.
Daily Technical Indicators: [See TJX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
During the last week, the price has moved above 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.
Price is close to the 50 Day Moving Average. 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.
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