Tuesday Morning Corporation operates as a retailer of upscale decorative home accessories, housewares, seasonal goods, and gifts in the United States. The company offers various products, such as home décor, furniture, bed and bath, kitchen, toys, crafts, pets, and seasonal goods. It also provides a range of branded merchandise, including Peacock Alley, Sferra, Lenox, Waterford, and Hartmann. As of June 30, 2015, the company operated 769 discount retail stores in 41 states.
Take a look at the 1-year chart of Tuesday (NASDAQ: TUES) with the added notations:
After declining steadily for most of 2015, TUES started bouncing on
top of a clear $5 support (green) during the most recent 5 months. Now
that the stock appears to be testing that support level again, traders
should be able to expect some sort of bounce. However, if the $5 support
were to break, lower prices should follow.
The Tale of the Tape: TUES has a key level of
support at $5. A trader could enter a long position at $5 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.