Easy double bottom in TJX

23 Jul

Technical Overview

TJX is currently trading around $126.72 and is forming a double bottom.

Breaking the 126$ activates the double bottom in the middle of a bull trend, which is a bull pattern inside another bull pattern, could you imagine a better moment to buy?


Fundamental Arguments

Consistent Growth: TJX has delivered steady revenue and earnings growth. For 2024, it reported $54.2B in revenue and $4.5B in net earnings, outperforming direct retail peers.

Strong Business Model: TJX's off-price retail is resilient, benefiting in uncertain consumer environments due to value-seeking behavior.

Expansion & Dividend Growth: The company continues to expand both domestically and internationally, recently raising its dividend by 13% and targeting projected store footprint expansion.


Trade Setup Idea

Buying the breakout is a great moment to see the price rallying at least a 3% until the take profits. A SL of 1,80% can be set up to avoid large loses if the price change the direction.

The idea gives a great risk reward ratio for traders and a very easy to understand entry and exit level.


💬 Does this setup align with your view on TJX?
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11 Ogo

Dagangan ditutup: sasaran tercapai

The stop was almost triggered, but this time it worked in our favor, and the trade reached the take-profit level after the initial decline. The double bottom pattern performed better than expected, but we decided to close the position with a 3% profit.