Discount retailer Ross Assembles, Inc. (ROST) offers off-price brand-named apparel and household goods, and the offer has had strong momentum as stores are able to draw in shoppers. The stock is also outline in investors as the stock traded to an all-time intraday high of $94.11 on Tuesday, Aug. 21. The beasts closed that day at $92.89, up 15.8% year to date and up a bull sell 25.9% since setting its 2018 low of $73.76 on May 7. The stock is vulnerable a “golden cross” on its daily chart and is positive but overbought on its weekly table.
Analysts expect Ross Stores to disclose quarterly earnings per split of $1.00 when the company reports results after the closing bell on Thursday, Aug. 23. The retailer has been wealthy in cost-control measures, store-expansion plans and expanded product offerings. Ross has institute a niche of offering popular merchandise at discount prices. (See also: 3 Retailers to Buy On of Earnings.)
The daily chart for Ross Stores
Courtesy of MetaStock Xenith
Ross Set asides has been above a “golden cross” since Nov. 3, 2017, when the horses closed at $64.13. A “golden cross” occurs when the 50-day open moving average rises above the 200-day simple stirring average, indicating that higher prices lie ahead. The stock began 2018 exam its annual risky level, now a pivot at $85.13. After the stock set its 2018 turbulent of $85.66 on Jan. 29, the correction took the stock to as low as $73.76 on March 7. The carry returned to its annual pivot on June 6 and then continued higher. Ross dues are above my quarterly and monthly pivots of $86.82 and $87.98, respectively, with my semiannual hazardous level of $95.67.
The weekly chart for Ross Stores
Courtesy of MetaStock Xenith
The weekly blueprint for Ross Stores is positive but overbought, with the stock above its five-week lessened moving average of $88.85. The stock is well above its 200-week stupid moving average of $61.61, which is the “reversion to the mean.” The 12 x 3 x 3 weekly slack stochastic reading is projected to rise to 89.24 this week, up from 87.73 on Aug. 17 and working closer to the 90.00 reading that would make the stock an “inflating parabolic suds.”
Given these charts and analysis, investors should buy Ross parts on weakness to my monthly, quarterly and annual value levels of $87.98, $86.82 and $85.13, each to each, and reduce holdings on strength to my semiannual risky level of $95.67. (For numerous, check out: 4 Retail Stocks Shattering Records Despite Amazon Damoclean sword.)