TJX Companies, Inc. (TJX) moved higher in recent intraday trading, but the stock continues to face negative pressure as it remains below its 50-day Simple Moving Average (SMA), limiting the prospects for a sustained recovery in the near term. A short-term bearish corrective trend also remains in control. Meanwhile, momentum indicators are beginning to form a bullish divergence after reaching extremely oversold levels relative to the stock's price action, although fresh bearish signals have also started to emerge, suggesting that downside pressure is still prevailing.
Therefore, our outlook remains bearish for the stock's upcoming trading sessions, as long as resistance at $158.00 remains intact. Under this scenario, the stock is expected to target the key support level at $148.00.
Today's price forecast: Bearish.
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