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Non-Tech : Invest / LTD
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To: Slava Chechik who wrote (3710)10/5/1998 7:26:00 AM
From: Thean  Read Replies (1) of 14427
 
Slava, regarding TJX,
Like most specialty clothing retailers/makers, TJX has been taking the big slide in the past 2 weeks. I follow NAUT and TOM closely and they too have slided big time lately, coinciding with the loss of confidence for the retail sector in general. Therefore, the immediate trend is down and I expect further pressure unless as a group they can show a very good earning numbers in the next few weeks.

TA - Soft support at around 16 (closing low on Thursday and lower BB), a stronger support at 12 (this one goes back 2 years). Near term Resistence should be expected at the upper BB which is near 20 1/2. TJX closed slightly above its midline BB on Friday with a strong rebound. If this strength can carry it through today, I would like to see it move up to 20 - 20 1/2 for a test of the resistence. Failing that would mean downward spiral going forward unless TJX and some of its peers beat earnings pants down.
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