Big Lots, Inc., through its subsidiaries, operates as a broadline
closeout retailer in the United States and Canada. The company offers
products under various merchandising categories, such as consumables,
including food, health and beauty, plastics, paper, chemical, and pet
departments; furniture category comprising upholstery, mattresses,
ready-to-assemble, and case goods departments; home category that
consists of domestics, stationery, and home decorative departments; and
seasonal category, which includes the lawn and garden, Christmas,
summer, and other holiday departments. It also provides merchandise
under the play n' wear category that comprise electronics, toys,
jewelry, infant accessories, and apparel departments; and hardlines and
other category, including appliances, tools, paint, and home maintenance
departments. As of January 28, 2012, it operated 1,451 BIG LOTS stores
in the 48 contiguous United States, and 82 LIQUIDATION WORLD and LW
stores in Canada. The company also offers its products on wholesale
basis. Big Lots, Inc. was founded in 1967 and is based in Columbus,
Ohio.
Please take a look at the 1-year chart of BIG (Big Lots, Inc.) below with my added notations:
BIG had been hitting a very important level of resistance at $32 (lt.
blue) and had been stalling at that price since August. No matter what
the market has or has not done over that period of time, BIG has not
been able to break through that area of resistance, until last week. The
stock should be moving higher overall and now, as expected, the stock
seems to be finding support at the previous $32 resistance.
The Tale of the Tape: BIG broke through its key
level of resistance at $32 and could be entered as a long trade on any
pullbacks to that level. However, if the stock were to break back below
$32, the forecast for a move higher would be negated.
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