Swing Trade This NOW?!? BJ's Wholesale Analysis | $BJ | Summary and Q&A

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March 28, 2021
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Everything Money
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Swing Trade This NOW?!? BJ's Wholesale Analysis | $BJ

TL;DR

BJ's Wholesale is a competitor of Costco and Sam's Club, with a strong online delivery service and acceptance of EBT payments.

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Key Insights

  • 💊 BJ's Wholesale competes with Costco and Sam's Club, offering a strong online delivery service and accepting EBT payments.
  • 😀 The company is currently facing resistance at the $44.55 and $50 levels.
  • â„Ēïļ BJ's is trading above its major moving averages, indicating positive momentum.
  • 💊 To consider a long-term position, a strong engulfing candlestick is needed to break through resistance.
  • 😷 For swing trading, a breakout above today's high is required, with a minimal bid and ask difference.
  • ðŸĨģ BJ's had a successful morning for day trading, with the stock price reaching $45.10.
  • ðŸĪŠ When day trading, being over 80 on the stochastic indicator is ideal for going long, and under 20 is ideal for going short.

Transcript

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Questions & Answers

Q: How does BJ's Wholesale compare to its competitors, Costco and Sam's Club?

BJ's Wholesale is a direct competitor of Costco and Sam's Club, offering similar products and services. However, BJ's stands out for its strong online delivery service and acceptance of EBT payments and SNAP eligibility.

Q: What are the key resistance areas for BJ's Wholesale?

The resistance areas for BJ's are currently at $44.55 and $50. The stock needs a strong engulfing candlestick to break through these levels and continue its upward movement.

Q: How does BJ's perform in terms of its major moving averages?

BJ's is currently trading above all four major moving averages, indicating positive momentum. However, the volume is not the strongest, but it is still within an acceptable range.

Q: Is BJ's Wholesale suitable for a short-term swing trade?

BJ's Wholesale can be suitable for a short-term swing trade if it breaks through the resistance area and shows a strong green engulfing candlestick. It's important to ensure that the bid and ask difference is minimal before entering a swing trade.

Summary & Key Takeaways

  • BJ's Wholesale is a competitor of Costco and Sam's Club, offering a strong online delivery service with two-day free delivery.

  • The company accepts EBT payments and SNAP eligibility, expanding its reach to a wider customer base.

  • From a trading perspective, BJ's is currently in a resistance area and needs a strong engulfing candlestick before considering a long-term position.

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