A top-quality discount retailer, TJX (TJ Max & Marshalls) is a leader amongst its peers. TJX posted a “7% increase in same-store sales, topping expectations, with the company saying customer traffic significantly increased in every division. The off-price retailer also lifted its second-quarter and full-year outlooks” (Dow Jones). I am looking to add this name to the portfolio as much needed diversification to the consumer/ non cyclical sector. It also yields a 1% dividend. Ross Stores (ROST) also posted a nice number, indicating to me that consumers are being smarter with their money in a slowing economy. On the technical side of things, it doesn’t hurt to mention that TJX is in the winner box (top right) and is above all moving averages- no resistance. So with clear skies above it, the new same stores growth catalyst will act as wind to its sails.
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So in retrospect what would be your recommendation on how much to buy and what stops would you put on this stock!
I put the stop right below the breakout point but you could also do the 20 day mavg. As far as how much you buy at one time it depends on the percentage of your portfolio you have invested. Rule of thumb is never risk more than 20% on one stock.