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Shares of Ross Stores Has Risen Above Previous 52-Week High

By Nick Russo

Ross Stores (NASDAQ:ROST) traded at a new 52-week high today of $61.64. This new high was reached on below average trading volume as 328,000 shares traded hands, while the average 30-day volume is approximately 2 million shares.

Ross Stores, Inc. operates a national chain of off-price retail apparel stores. The stores offer brand-name apparel, apparel-related merchandise for the entire family, fragrances, gift items, and linens for the home.

In the past 52 weeks, Ross Stores share prices have been bracketed by a low of $30.91 and a high of $61.64 and are now at $61.63, 99% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Ross Stores (NASDAQ:ROST) is currently priced 9.3% above its average consensus analyst price target of $55.89. The stock should find initial support at its 50-day moving average (MA) of $57.46 and further support at its 200-day MA of $53.20.

SmarTrend recommended that subscribers consider buying shares of Ross Stores on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.46. Since that recommendation, shares of Ross Stores have risen 6.4%. We continue to monitor ROST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Ross Stores

Ticker(s): ROST