After Yesterday's Rally of 1.21% Shares Could Potentially Pullback
Ross Stores (NASDAQ:ROST) traded in a range yesterday that spanned from a low of $61.09 to a high of $62.37. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $61.88 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Ross Stores share prices have been bracketed by a low of $30.91 and a high of $62.37 and are now at $61.78, 100% 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%.
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 6.3%. We continue to monitor ROST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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