Bargain Retail: A 30 Year Trend Worth Owning
Bargain retail has been a trend worth owning for the past 30 years, and that trend is set to continue as TJ Maxx powers to new all time highs. Short term, the stock broke out of an ascending triangle and has a measured move price objective of $72, representing 20% upside from current levels.
Longer term, TJ Maxx has a price objective of $93 (+55% upside), derived from the 423.6% fibonacci extension level of the Q4 2018 high and low. Don't miss the forest for the trees, focus on the big picture, and the big trends, and own it.