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Today, we’re opening a new bullish trade on TJX Companies (NYSE:TJX).
Amongst the euphoria around the retail sector this week, there are a few names that are strong fundamental performers and less prone to reversals on any hints of bad news.
We like TJX for exposure ahead of the big sales reports that are due to be released after the first of the new year.
The stock recently confirmed a bounce off of support near $74 per share, and we project the near-term upside target to be near $80. As investors “climb the wall of worry,” we expect value and growth trades to see much better performance now that support has come into play.
‘Buy to open’ the TJX January (2018) 75 Calls (TJX180119C00075000) for a maximum price of $2.15.
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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade with our $19 for 2 months Holiday Savings Special by clicking here.