Department store chain Sears Holding Corp. (SHLD) has been Wall Street's punching bag in 2017, the manifestation of the bricks-and-mortar retail rout that's been taking place as e-tailers like (AMZN) - Get, Inc. Report replace the shopping mall for consumers.

No doubt about it, Sears has been an awful stock to own in recent years - in the past five years, Sears has lost about 83% of its market value, plunging at the same time that the S&P 500 was undertaking a massive multiyear rally.

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But long-suffering shareholders could be in store for a reprieve in Sears this summer, at least in the short-term - in fact, shares are just a dollar away from opening the door to a more substantial rally.

To figure out how to trade it, we're turning to the chart for a technical look:

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Long-term, Sears' downtrend is still intact. But zoom in a bit on the chart, and things start to look more constructive for Sears bulls. Shares have spent the past few months forming an inverse head-and-shoulders pattern, a bullish reversal pattern that signals exhaustion among sellers.

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After the prolonged selloff this stock has seen over the past few years, it's not hard to imagine why sellers might be winded at this point.

The inverse head-and-shoulders pattern is formed by two swing lows that bottom out at approximately the same level (the shoulders), separated by a lower low (the head). The buy signal comes on a move through Sears' neckline - that's currently at the $9.50 level.

Simply put, if Sears can materially clear the $9.50 level, then shares open up considerable upside potential to around the $13 price level. That materiality is important - shares briefly blipped above $10 in July, only to close back below $9 the next day in a classic bull trap. Wait for two consecutive closes above $9.50 before you pull the trigger on the Sears trade.

Longer-term, higher lows from February's bottom could converge with the long-term downtrend that's been in play for more than a year now. That's a technical standoff of sorts that could lead to a change in trend in Sears - but it's still a long way away at this point. The price level to watch first is our breakout level at $9.50.

Sears still has plenty of issues with its business - but for a short-term stock trade, this department store chain is just a dollar away from a significant rebound in 2017. Keep a close eye on this one. If it happens, it'll happen fast.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.