The daily back-and-forth has been tough. Retail has been one of those sectors really hit hard, but showing some signs of life of late, even before the last few days in equities. I find the day-to-day still tough to play from the bullish side, but there are a few retailers that look intriguing on the weekly view should the cards fall into place.
Big 5 Sporting Goods (BGFV) already has been a big winner on the week, up over 10%. Technicals are improving greatly here. The Relative Strength Index (RSI) is crossing over 50. This would be bullish if it can hold. The Commodity Channel Index (CCI) has crossed back above zero and appears slightly stronger than RSI. The big price move has goosed both momentum and trend. The Force Index is still red and Big 5 has been a big bust without the help of volume, so ideally we want to see a turn green here.
The stock is sitting above $10.50 support. Should we see a close for the week under $10.50, then I would be patient as $9.75 could come back into play. I would be all right buying there if the technicals were still where they stand now. Unfortunately, that would not likely be the case, but we can't see it wouldn't be the case for certain. I'm looking at an upside of $11.50, so the risk-reward is there if we close the week right around where we stand now.
Five Below (FIVE) hasn't had the same week as BGFV, but the march higher over the last week has been impressive nonetheless. The stock has struggled the last few winters, but things may be ready to change. This one has the Force Index green as well as RSI over 50 and CCI over 0, plus price is over both the 10-day and 50-day simple moving averages (SMA). In other words, the technicals are solid.
The only thing lacking is having the 10-day SMA over the 50-day SMA, but I can live with that. All we need here is a weekly close over $35.50 and I'd say this one is heading above $38, likely to $40 over the next month. Support comes in between $32 and $33. I'd probably play it safe and use $33 if watching this based on a weekly close, but use $32 if using a daily close for a trade based off the weekly chart.
It's still slippery out there, so consider longer time frames and absolutely wait for a trigger before trading.