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Possible Bearish Inside Day Candle Pattern Detected for Tjx Cos Inc (NYSE:TJX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tjx Cos Inc (NYSE:TJX) based on the price action in the company's shares. Today's price range of $53.94 and $54.30 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Tjx Cos Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The TJX Companies, Inc. is an off-price apparel and home fashion retailer in the United States and worldwide. The Company operates off-price retail concepts in the US, Canada, and Europe that offer a wide range of brand name and designer merchandise.

Tjx Cos Inc share prices have moved between a 52-week high of $57.15 and a 52-week low of $41.49 and are now trading 30% above that low price at $54.07 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

There is potential upside of 69.8% for shares of Tjx Cos Inc based on a current price of $54.07 and an average consensus analyst price target of $91.82. Tjx Cos Inc shares have support at the 50-day moving average (MA) of $53.71 and additional support at the 200-day MA of $51.27.

SmarTrend is tracking the current trend status for Tjx Cos Inc and will alert subscribers who have TJX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle tjx cos inc

Ticker(s): TJX