Why TJX's Upswing is Too Good to Pass Up

The stock could be ripe for some bullish analyst attention

Oct 25, 2022 at 11:10 AM
facebook twitter linkedin

The shares of TJX Companies Inc (NYSE:TJX) broke out of a downtrend from August through October, and are currently above all daily and weekly trendlines. Furthermore, the stock is higher than the $64.50-$63.50 pivot that tends to produce volatile moves with moving averages trending higher that had previously been flat. Now, with TJX on an upswing after bouncing off its year-over-year breakeven level this week, it looks like a good time to weigh in with calls.
tjx oct 25
At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), TJX’s 50-day put/call volume ratio recently peaked above 1.25 and has been unwinding since. Past peaks such as this have set up multi-month runs.
Despite the bullish tilt, analysts haven’t been more bearish in the past few years. Of the 25 analysts in coverage, six carry a tepid “hold” rating on TJX. Our recommended call option has a leverage ratio of 6 and will double in value on a 16.2% pop in the underlying shares.

Subscribers to Schaeffer's Weekend Trader options recommendation service received this TJX commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!