Kohl's Corporation (KSS) shares rose more than 8% on Tuesday morning after the retailer expanded its partnership with Amazon.com, Inc. (AMZN). The Amazon🐻 Returns program enables Amazon customers to return their unpackaged goods to Kohl's stores, which then package and send all returned items to Amazon. The retailer also carries Amazon products in more than𒅌 200 of its stores throughout the Midwest.

Earlier this month, Bank of America Merrill Lynch noted that department store sales rose 1.7% year over year in March. The analyst cited improving weather and a catch-up in tax refunds as reason for the increase, but it remains cautious, with Underperform ratings for most companies in the space. The exception is Kohl's, for which the firm reiterated its Buy rating on expectations of strong revenue and earnings growth.

Kohl's management expects to see 澳洲幸运5开奖号码历史查询:comparable store sales growth of nil to 2% for fiscal 2019 along with a 10-basis-point improvement in 澳洲幸运5开奖号码历史查询:gross margins. The company also plans to 澳洲幸运5开奖号码历史查询:repurchase $400 million to $500 million worth of shares in an effo🅺rt to unlock shareholder value over the long term.

From a technical standpoint, the stock broke down from its price channel and 200-day 澳洲幸运5开奖号码历史查询:moving average at around $70.00 earlier this week before rebounding sharply following news of its expanded partnership with Amazon. The 澳洲幸运5开奖号码历史查询:relative strength index (RSI) remains near neutral levels with a reading of 57.99, while the 澳洲幸运5开奖号码历史查询:moving ꦛaverage convergence divergence (MACD) could see a bullish crossover. Th♓ese indicators suggest that the stock could have more room to move higher.

Traders should watch for a move toward R2 澳洲幸运5开奖号码历史查询:resistance at $74.82 or upper trendline resistance at $76.00. If the stock breaks back below R1 resistance at $71.80, traders could see a move lower to retest trendline and 200-day moving average 澳洲幸运5开奖号码历史查询:support levels at around $70.11, although that scenario appears less likely to occur given the 🍒bullish senti💙ment.

The author holds no position in the stock(s) mentioned except through passively managed index funds.