Ross Stores (ROST) Getting Ready to Breakout
After running my momentum-screener I happen to come across ROST. The stores operate one of the largets off-price apparel and home fashion chains in the United States, selling name-brand and designer apparel, accessories, footwear, and home fashions to middle income consumers at prices generally 20 to 60 percent lower than regular price. It has very healthy profitability, growth, and financial health numbers; even if you end up not trading it, it's amazing stock to hold for the long haul.
Looking at the chart, my price source is (H+L+C/3) just because I'm looking at the longer series (> 1 yr). As you can tell the it recently finished a cycle (first arrow) and just started a new one (second arrow). And at the end of the week it touched the lower band of the Bollinger Band meaning a upwards reversion is in the horizon All of the momentum indicates that the stock is oversold but this is just the first correction of the new trend. Doing a bit of trend analysis on the Stochastic RSI you can tell it too is heading the "overbought" direction. This feels like the bottom of long upward trend, my recommendation would be to get in while the getting is good. BUY, BUY, BUY!!!
Looking at the chart, my price source is (H+L+C/3) just because I'm looking at the longer series (> 1 yr). As you can tell the it recently finished a cycle (first arrow) and just started a new one (second arrow). And at the end of the week it touched the lower band of the Bollinger Band meaning a upwards reversion is in the horizon All of the momentum indicates that the stock is oversold but this is just the first correction of the new trend. Doing a bit of trend analysis on the Stochastic RSI you can tell it too is heading the "overbought" direction. This feels like the bottom of long upward trend, my recommendation would be to get in while the getting is good. BUY, BUY, BUY!!!
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