fonzotrader
Short

Found a new head and shoulders pattern!

BATS:ROST   ROSS STORES INC
73 0 0
Price-entry: $69.33
Price-target: $60.09
Stop-loss: $74.71
Position: Short

This head and shoulders pattern has been forming since mid September. It is serving as a reversal top. The price went under the 200 SMA last month in January for the first time in more than 10 months. The 200 SMA has made a death cross with the 20 SMA . Based on the MAs the stock's future looks pretty bearish . The stock has already gone down substantial amount under the neckline and it doesn't look that it will come near it again(low buying volume . If this stock does go back to the neckline i've placed my stop-loss at $74.71 around the resistance level of both shoulders. There is still profit to be made from this stock , I expect a 13.33% gain, this expected movement will fill the gap from April.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out