Big Discount Bifurcation:

The two best-looking charts in this space are undoubtedly BJ and COST. BJ currently trades 6% off most recent 52 week highs while COST is now 1% off its yearly peak. On a one-year lookback period, both names are higher by 42%, and YTD BJ carries an advantage higher by 61% compared to COST up 40%. COST just broke above a bull flag pivot of 510 which carries a measured move to 570, and BJ is approaching its rising 50 day SMA, which has been comforting throughout 2021 so far to the tune of about 10 times. Below is the chart of WMT whose chart out of the 3 trades in the widest and loose fashion, hallmark bearish traits. Since last September it has shied away from the very round 150 number on several occasions, and this week is lower by 4%, already in larger than normal WEEKLY volume. Stock with best in breed COST, as WMT is now trading negatively YTD down 1%.  

This article requires a Chartsmarter membership. Please click here to join.