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After Yesterday's Rally of 1.08% Shares Could Potentially Pullback

By James Quinn

TJX Cos (NYSE:TJX) traded in a range yesterday that spanned from a low of $74.49 to a high of $75.22. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $75.15 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, TJX Cos has traded in a range of $63.53 to $83.64 and is now at $74.55, 17% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of TJX Cos on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $77.93. Since that call, shares of TJX Cos have fallen 5.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders tjx cos

Ticker(s): TJX