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Retail Recap: Best Buy, Home Depot, J.C. Penney Rebound

Stocks in this article: HD M ANF DLTR LOW TGT TJX BBY JCP KSS

TJX (TJX) ($60.29): Missed EPS estimates by 2 cents earning 81 cents a share. The stock opened above its 50-day SMA at $60.84 to a day's high at $62.22 but then closed below the 50-day with its 200-day SMA at $56.43. Even with this choppy pattern, the weekly chart shifts to positive given a close this week above its five-week MMA at $60.23. Semiannual and annual value levels are $55.29 and $52.67 with semiannual and quarterly risky levels at $62.97 and $68.04.

On Feb. 26 I wrote, Earnings Preview: JCPenney and Best Buy Are Survivors and here's how these names plus one more covered in this report are performing post-earnings.

Best Buy (BBY) ($25.82): Beat EPS estimates by 23 cents earning $1.04 a share released premarket this morning. The stock opened with a day's high at $28.20 as of 10 a.m. Part of the rebound the stock was on reduced costs in an announcement that some store managers faced job cuts, and because the stock had a year-to-date loss of 36.5%. The weekly chart stays negative but oversold unless Friday's close is above its five-week MMA and 200-week SMA at $28.31 and $28.22. My semiannual value levels are $24.82 and $18.95 with a quarterly risky level at $30.06.

J.C. Penney (JCP - Get Report) ($5.96): Beat EPS estimates by 11 cents reporting a less than expected loss of 68 cents a share after the closing bell Wednesday. The stock gapped above its 50-day SMA at $6.96 this morning well below its 200-day SMA at $11.44. A reason for the strong rebound is the fact that the stock had a year-to-date loss of 38.5%. The weekly chart shifts to positive given a close this week above its five-week MMA at $6.76. My annual value level is $5.10 with a semiannual risky level at $18.25.

Kohl's Corp (KSS) ($54.44) This morning beat EPS estimates by 3 cents earning $1.56 a share. This retailer was trading higher during the week moving above its 200-day SMA at $52.97 on Tuesday. The stock set a day's high at $55.67 as of 10 a.m. The weekly chart is positive with its five-week MMA and 200-week SMA at $52.88 and $50.68. My semiannual value level is $46.89 with quarterly and annual pivots at $51.01, $52.25 and $54.63 and a semiannual risky level at $57.44.

At the time of publication the author held no positions in any of the stocks mentioned.

Follow @Suttmeier

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff

Richard Suttmeier is the chief market strategist at ValuEngine.com. He has been a professional in the U.S. Capital Markets since 1972, transferring his engineering skills to the trading and investment world.

Suttmeier has an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. He became the first long bond trader for Bache in 1978, and formed the Government Bond Department at LF Rothschild in 1981, helping establish that firm as a primary dealer in 1986. This experience gives him the insights to be an expert on monetary policy, which he features in his newsletters, and market commentary.

Suttmeier's industry licenses include, Series 7 and Registered Principal (Series 24). He has been the Chief Market Strategist for ValuEngine.com since 2008 and often appears on financial TV.

Click here for details on Suttmeier's "Buy and Trade" investment strategy.

Richard Suttmeier can be reached at RSuttmeier@Gmail.com
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