TJX Companies Inc. (TJX)



TJX Weekly Chart (normal scale)
TJX has been bullish since 2009...
Since 13 September 2012, TJX seem to make a retracement move...
From 9 November 2012 till 5 February 2013, TJX likely to make a retracement with an ABC pattern..

1. Agressive Trader.
    Might enter this level with a stop loss at 47.25...

2. Pattern Trader.
    Might enter after price break red trendline...

3. Conservative Trader.
    Might enter after price break the low at 9 November 2012

TJX Daily Chart (logarithmic scale)
On daily chart, we observe price - MACD divergence and price - RSI divergence...

On both scale drawing, seem that a break below red trendline might turn into a free fall...





Location: Surabaya, Indonesia

Comments

Post a Comment

Popular posts from this blog

Facebook Inc Com (FB)

Image
FB - Daily Chart - Logarithmic Scale FB sit very tight at his support level at 26.8. I expect 2 scenario. FB might move in trading range between 26.8 - 32. FB form an ABC correction and stop at next support at 25 or 23.3. I want to see how price move from today. If price can break green down trend line, then I might enter a bullish position after a retracement. Resistance at 29 and 32. I prefer to enter a bullish trade after I see a possible full retracement on FB. I think it might settle at 25 support level.
Read more

Weekly Review

Image
DJIA - Daily Chart - Normal Scale DJIA make a new high but we find divergence on MACD and RSI. This one is the leader of this bullish move. It's often happen in the past, most trader see DJIA as a benchmark about how US Market perform. While they don't see the majority of stock heading. When DJIA break the trend line, I expect a bearish move in stock market. SPX - Daily Chart - Normal Scale SPX might forming first ABC pattern in a possible topping formation. I expect SPX to trading range between 1470 -1530 within 2-3 weeks. A break to either side might initiate a bigger move. Personally I expect a break to the support. Please check 4 hour chart on SP500 Future too,there is a down trend line still attached to the tops. NASDAQ - Daily Chart - Normal Scale Similar to SPX, NASDAQ might move in trading range within 2-3 weeks. But NASDAQ sit at the trend line. Russel 2000 - Daily Chart - Normal Scale Russel 2000 already break the trend line. There is a
Read more

McCormick & Co Inc Com (MKC)

Image
MKC - Daily Chart - Logarithmic Scale MKC have a bullish trend, but early this year they have break the trend line. The price action want to retest the resistance. My trade plan is I want to see if the price action can break the resistance. If price can significantly break the resistance, then I will wait for a pullback. If price can't break the resistance level then I will wait for a bearish fractal to enter my trade. Personally I prefer the second scenario happen, because it will give us a high expectancy trade plan with a good risk reward ratio.  But price can be irrational, OVER BOUGHT DOESN'T MEAN OVER, so rather than trade what we expect, It's better to trade what we see and manage the risk wisely. If scenario 2 happen, the stop loss would be slight above the resistance line.
Read more