In-Depth Technical Analysis of BJ'S WHOLESALE CLUB HOLDINGS.

Our stock screener has detected a potential breakout setup on BJ'S WHOLESALE CLUB HOLDINGS (NYSE:BJ). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:BJ.

In-Depth Technical Analysis of NYSE:BJ

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall BJ gets a technical rating of 9 out of 10. In the last year, BJ was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• When comparing the yearly performance of all stocks, we notice that BJ is one of the better performing stocks in the market, outperforming 89% of all stocks. We also observe that the gains produced by BJ over the past year are nicely spread over this period.
• BJ is part of the Consumer Staples Distribution & Retail industry. There are 40 other stocks in this industry. BJ outperforms 84% of them.
• BJ is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BJ is lagging the market slightly.

Our latest full technical report of BJ contains the most current technical analsysis.

How do we evaluate the setup for NYSE:BJ?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:BJ currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

BJ has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 86.09, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BJ in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:BJ

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.