TJX (TJX) NewsBite - TJX Raises Q2 Outlook

Posted on Friday, August 08, 2008 2:32 PM

TJX (NYSE: TJX) hit a new 52-Week high of $36.75 so far today. Currently the stock is up $1.69 (4.83%) to $36.71 on 5,058,794 shares traded. Today's high is up $11.22 from a 52-Week Low of $25.49. TJX stock has been showing support around $32.83 and resistance in the $36.47 range. Technical indicators for the stock are bullish and S&P gives TJX a positive 4 STARS (out of 5) buy ranking. TJX Cos. posted yesterday a 3% rise in July same-store sales, slightly below analysts' estimates. The company also raised its fiscal second-quarter outlook. If you are looking for a hedged play on TJX the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]