The TJX Companies : We anticipate a reversal
Entry price | Target | Stop-loss | Potential |
---|
US$57.51 |
US$0 |
US$54.8 |
-100% |
---|
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of USD 2.96 per share for the current year against USD 2.80 12 months ago.
Following a bullish wave, the stock now shows a slight decline that has lead to the USD 56.8 medium-term support. On this level, remobilization of buyer flows has stopped the decrease and should allow now a recovery of the uptrend in the medium term.
Investor should buy the security in the current area to take advantage of a new upward acceleration in the direction of USD 61.1. A stop loss is placed under USD 56.8.
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