Analysis Summary for TJX Companies (TJX)
Date of Analysis: July 7th, 2023
Time Target: August 31st, 2023 (+/- 5 trading days)
Price Target: $94 (+/- $2)
Projected Move: 45-55% decline by August of 2024
Multiple confirmations. We anticipate TJX to top out around August 31st at around $94 and then proceed to decline 45-55% into August of 2024 (1 year move).
- Quick Note: As we approach Time/Price variables above, we should be able to narrow down our targets even more with Intraday work.
PRICE Variable:
Is fairly clear in this case. $94 (+/- $2)
TIME Variable:
August 31st, 2023 (+/- 5 trading days). It is not as ideal as we would prefer, but a price/time alignment above should narrow down the window.
Trading Recommendation & Stop Loss:
It would be wise to start building a short position as soon as the stock enters into a $92+ range. A stop loss should be established at $97.25 as the forecast will fail there. A 45-55% should follow over the next 12 months.
***No Options: We would discourage everyone from using options at this time due to a variety of possible timing issues. While the PRICE move described above is not in question, at times the overall move can take longer than originally anticipated/projected..
