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ROST trade ideas
Ross On WatchIm not usually into fundementals but I dont see how this stock is trading at anything over $40. I only see 20 stores on their website and theyre all located either within or in close proximity to Pennsylvania. Sure online ordering exists but there are so many other stores to choose from.
On watch for now
ROST:Hope despite earnings miss!Ross Stores
Short Term - We look to Buy at 62.32 (stop at 53.59)
This stock has recently been in the news headlines. They missed revenue estimates for the 1st quarter. Broken out or a triangle formation to the downside. Measured move target is 61.00. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. A higher correction is expected.
Our profit targets will be 89.47 and 100.00
Resistance: 70.00 / 80.00 / 90.00
Support: 60.00 / 50.00 / 40.00
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Cup and Handle Rising WedgesROST 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
$ROST with a neutral outlook following its earning release $ROST posted its earnings with a positive over reaction following its release with the PEAD projecting a neutral outlook for the stock placing it in Drift B
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ROSS STORES Strategy DailyHey guys, ROSS STORES is in a fake bearish configuration with low volume of sales made and we can see significant buyer rejection. On the TIMEFRAME 1Min the buyers are breaking the VWAP, it may have power on this price increase attempt. Great potential to join the next high See the TIMEFRAME 4H, then close the bearish gap thereafter to go to the next high.
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ROST Long Swing Trade for Week of 7.19ROST looking like a buy here this week(19.7.2020). 4hr chart has already had a MACD cross over, with volume; along with Fridays action
closing with bullish volume. I would expect this to continue over the coming days if Monday has the same action. With earnings
at the latter half of next month; no reason to expect any bad news comes out.
Would want 1hr candle close above 85.50 to enter this trade.
Targets/ Stops:
Target 1: 88.22
Target 2: 92.00
Target 3: 98.61
Stop: 81.60.
Best of Luck,
--d0x