I like to sleep late if possible on Black Friday. I am exhausted from all the days of cleaning, cooking, and chaos leading up to Thanksgiving and all of the cleaning afterward. Our friends across the pond call it "knackered."
I am not much of a shopper even when the stores are empty. Forget about being pushed and shoved and elbowed to get a deal on a big screen TV. Help! No fliers and online coupons for me, but I do have two retail names for your consideration. These two companies -- Tuesday Morning (TUES) and Five Below (FIVE) -- are not known for their door-buster deals but they are two retailers with attractive charts, in my opinion.
In this daily chart of TUES, above, we can see a rounded bottom formation from April to September. Prices turned up above the rising 50-day moving average line in late August and above the 200-day line at the end of September. The 50-day average has almost crossed above the 200-day line for what is commonly called a "golden cross." The crossing of these two popular moving averages is a buy signal. Volume was heavy in May and June and may be a sign of capitulation after a long decline.
The On-Balance-Volume (OBV) line has firmed since early August after a decline and may be a shift to aggressive buying from aggressive selling. The trend-following Moving Average Convergence Divergence (MACD) oscillator turned bullish in late August when it crossed above the zero line.
In this weekly chart of TUES, above, we can see the decline from $22 three years ago. The major trend is still down but now prices are above the 40-week moving average line. The weekly OBV line is inching upward and the MACD oscillator has nearly crossed the zero line for a buy signal.
Bottom line: Shopping for a low-priced stock? Consider going long TUES on a close above $3.30 risking a close below $2.50. My price targets are $5.00 and $6.00.
In this daily bar chart of FIVE, above, we can see a nice looking uptrend on display. Prices are above the rising 50-day moving average line and the rising 200-day line. A bullish golden cross can be seen back in late April. The rising OBV line is a positive signal and the MACD oscillator is about to cross to the upside for a fresh outright go long signal.
In this weekly chart of FIVE, above we can see a two-year uptrend. Prices are above the rising 40-week moving average line. The weekly OBV line has been neutral recently but its longer-term pattern is bullish. The weekly MACD oscillator is in a bullish mode.
Bottom line: FIVE has been trading sideways the past month but I expect it to go higher. Traders can buy FIVE here and risk a close below $53 looking for gains potentially to the low $80s.
Target (TGT) Brian Cornell pops by TheStreet.