lauralea

Cup and Handle Rising Wedges

NASDAQ:ROST   Ross Stores, Inc
ROST has fallen from the first rising wedge but it just now hitting the bottom trendline of the larger rising wedge . Earnings are 5-20 AMC and I am hoping it will complete the fall before then and recover. Looks to be trying hard today. I have noticed when a stock is inside of one when earnings come, they can fall out sharply, whether they beat or not.

Rising wedges are bearish but not valid until bottom trendline is broken. In an uptrend, the wedge slopes up with the trend and narrows a the apex. They can be long term patterns,

ROST has broken long entry level, experienced a throwback, and is now below long entry level. I am waiting for a sign that the rising wedge is finished with this stock which my be by tomorrow )o: but who knows.

Negative volume is high, showing smart money is interested in ROST . Short interest is low.

No recommendation.

"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."

Gap below price
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