TJX Companies, Inc., (TJX) operates as an off-price apparel & home fashions retailer in Unites States, Canada, Europe & Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada & TJX International. It comes under Consumer Cyclical sector & trades as “TJX” ticker at NYSE.
As discussed in the last article, TJX made a new high in ((1)) at $135.85. It favors corrective pullback in ((2)) & should remain supported in extreme area to rally again as long stays above price trendline. If it breaks below price trendline, then we expect larger correction in (IV) against May-2022 low.
TJX – Elliott Wave Latest Daily View:
In Weekly, it started ((III)) bullish sequence from March-2020 low of $32.72. It placed (I) impulse at $77.35 high & (II) at $53.69 low as 0.5 Fibonacci retracement in May-2022 low. Above there, it favors upside in (III) & expect continuation higher as long as it stays above 3.13.2025 low. Chasing at this level should be cautious. Within (III), it placed I at $64.84 high, II at $54.55 low, III at $128 high as extended wave, IV at $112.10 low & favors rally in V. Within III, it placed at ((1)) at $69.77 high, ((2)) at $59.78 low, ((3)) at $121.13 high, ((4)) at $111.22 low & ((5)) at $128 high. It ended IV in zigzag correction.
TJX – Elliott Wave View From 4.28.2025:
Above IV low of $112.10, it ended ((1)) at $135.85 high & correcting lower in 3, 7 or 11 swings in ((2)). It placed (1) at $128.33 high, (2) at $116.37 low, (3) at $131.30 high, (4) at 122.25 low & (5) at $135.85 high. In ((2)) pullback, it ended (A) at $124.92 low & favors corrective bounce in (B), which expect to fail soon to turn lower in (C). As long as the pullback in (C) remain above price trendline & more importantly above 3.13.2025 low, it should continue rally. Once it breaks above 5.19.2025 high, it expects two more highs at least to finish (III). We like to buy the pullback in (C) at extreme area (can be project one (B) placed) against 3.13.2025 low. But if it breaks below 3.13.2025 low, it can be larger weekly pullback in (IV), which also provides buying opportunity.
TJX – Elliott Wave Latest Weekly View:
Source: https://elliottwave-forecast.com/stock-market/tjx-companies-bigger-rally-ahead-pullback/