Reiff said the company's goal is to make life easier for their customers. Organization improves your quality of life by giving you more time to do the things you love, she said.
Reiff spoke highly of the company's new product partnerships as well as their partnership with the Netflix (NFLX) series, "The Home Edit." She said these new initiatives are attracting new customers without alienating those who already believe in their brand.
When we last looked at the charts of TCS on Nov. 20, we wrote that, "The strength of the uptrend in TCS has been weakening since the middle of October. The Point and Figure price target of only $11-plus is not compelling at this juncture. A weekly close above $12.25 -- the 2018 high -- however, is a major upside breakout and should be bought. Patience."
We could be getting that key upside breakout this week so let's check out the charts again.
In the updated daily bar chart of TCS, below, we can see that the shares rallied sharply Tuesday making a new high close. TCS is above the rising 50-day moving average line after a successful test of the line on Monday and earlier this month. The 200-day moving average is pointed higher with a positive slope.
Trading volume has been more active since the middle of September as more traders and investors have been attracted to the fundamental story. The On-Balance-Volume (OBV) line has been positive since July and tells us that buyers of TCS have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator turned upward to a fresh buy signal this month.
In the weekly bar chart of TCS, below, we can see that prices have moved up to retest the high of 2018. We have yet to finish out the week but it looks like this is a key breakout. Prices are above the rising 40-week moving average line.
The OBV line is bullish and so is the MACD oscillator in this time frame.
In this first Point and Figure chart of TCS, below, we used daily price data with a percentage change scaling. Here prices have already broken out to a new high with a potential $16 price target.
In this second Point and Figure chart of TCS, below, we also used daily price data but here we use a traditional even-dollar scaling. The breakout trade on this chart is $12.50 but we have a $26 price target.
Bottom-line strategy: TCS is making its move to the upside. Time to go long risking to $9 for now. The price targets are $16 and then $26.