Retail Stocks Are Proving That Amazon Is Not The Industry-Killer Everyone Feared
by MR Magazine Staff
Jul 23, 2018
Amazon was supposed to break the retail industry. Instead, the sector is rallying. Some of the group’s biggest stocks have recently hit multiyear highs, and the XRT retail ETF is inching closer to record levels not seen since 2015. Stocks like Costco, Nordstrom, TJX, Ross Stores and Five Below reached 52-week highs as recently as last week. One chart watcher says a breakout to records could be in store for retail. “It looks like we have a double bottom here that’s set up this push, and it looks like if the broader market does stabilize, XRT could punch up through $50,” Todd Gordon, founder of TradingAnalysis.com, said Friday on CNBC’s “Trading Nation.” “It looks like the recovery is in motion.” Read more at CNBC.
