After Yesterday's Rally of 1.37% Shares Could Potentially Pullback
Ross Stores (NASDAQ:ROST) traded in a range yesterday that spanned from a low of $56.75 to a high of $57.80. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $57.34 on volume of 889,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Ross Stores on November 23rd, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.91. Since that recommendation, shares of Ross Stores have risen 11.9%. We continue to monitor ROST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Ross Stores share prices have moved between a 52-week high of $59.68 and a 52-week low of $30.91 and are now trading 87% above that low price at $57.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.
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