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Archive
- 4/5/2024 -
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Ross Stores (ROST) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Ross Stores (ROST). During the week, the ROST dropped -7.23 points, or -4.93%, and closed at 139.53 on Friday, April 5, 2024. Weekly volume was -24% below average.
 Long-term trend: [See ROST long-term trend chart]
A long-term uptrend had started on November 8, 2022 at 90.31 and reached 151.12 on February 29, 2024. ROST gained -60.81 points, or -67.33%, in 68 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (118.07) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See ROST medium-term trend chart]
A medium-term uptrend had started on September 27, 2023 at 108.35 and reached 151.12 on February 29, 2024. ROST gained -42.77 points, or -39.47%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (154.91) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ROST may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ROST weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See ROST short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 148.10 and reached 139.20 on April 5, 2024. ROST lost 8.90 points, or 6.01%, in 8 days. Price is near the trend low.
 Daily Technical Indicators: [See ROST daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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