TJX ( (TJX) ) has performed well for investors, this year. Prices are pointed up but slowing momentum suggests that a period of ,.
In this daily chart of TJX, above, we can see that prices are above the rising, 50-day moving average, but appear extended when we look at past rallies. Prices are above the rising, 200-day average line.
The On-Balance-Volume (OBV) line is up with the price action -- but it has not broken above the previous highs for the OBV line in March or June. This difference may be subtle, but it is worth pointing out to Real Money readers. In the lower panel is the 12-day momentum study, which has been slowing from July into August.
When you look at this weekly chart of TJX, above, everything appears to be in good order. Prices are above the rising, 40-week moving average line. The OBV line on this weekly timeframe has made a new high for the move up. The MACD oscillator is above the zero line, with a new buy signal. Balancing the daily chart with the weekly chart suggests that TJX may just have a period of consolidation within an existing longer-term uptrend.
