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 unpꦅackaged goods to Kohl's stores, which then package and send all returned items to Amazon. The retailer also carries Amazon products in more than 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官方开奖结果体彩网:comparable store sales growth of nil to 2% for fiscal 2019 along with a 10-basis-point improvement in 澳洲幸运5官方开奖结果体彩网:gross margins. The company also plans to 澳洲幸运5官方开奖结果体彩网:repurchase $400 m𓄧illion to $500 million worth of shares in an effort 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官方开奖结果体彩网: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官方开奖结果体彩网:relative strength index (RSI) remains near neutral levels with a reading of 57.99, while the 澳洲幸运5官方开奖结果体彩网:moving average convergenc❀e divergence (MACD) could see a bullish crossover. These indicators sugg🀅♐est that the stock could have more room to move higher.

Traders should watch for a move toward R2 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:support levels at around $70.11, although that scenario appea𒆙rs less likely to occur given the bullish sentiment.

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