The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Ross Stores (ROST) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :
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It was the negative week for the Ross Stores (ROST). During the week, the ROST gave back -0.62 points, or -0.43%, and closed at 145.12 on Friday, March 15, 2024. Weekly volume was 12% above 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 (116.94) 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 (149.96) is broken. A broken support is considered to be a long-term bearish signal. 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 7, 2024 at 150.00 and reached 144.31 on March 11, 2024. ROST lost 5.69 points, or 3.79%, in 4 days. The price is now at the 14.24% retracement level.

Daily Technical Indicators: [See ROST daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 5, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.24
Williams' Percentage Range (W%R) 73.10
Lane's Stochastic (%D-Slow) 36.62
Greed/Fear Indicator (GFI) 34.25
Moving Average Converg./Diverg. (MACD) 1.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.51
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 84.35
Overbought
Greed/Fear Indicator (GFI) 76.06
Moving Average Converg./Diverg. (MACD) 7.52
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 154.97
Upper Bollinger Band 150.16
Quarterly Trendline Support 149.96
Parabolic System 149.55
Monthly Trendline Resistance 148.68
Weekly Stochastic Crossing 148.63
20 Day Moving Average 147.22
Daily Stochastic Crossing 145.83
Price 145.12
50 Day Moving Average 143.06
Lower Bollinger Band 142.50
Monthly Trendline Support 131.58
Yearly Trendline Resistance 122.93
Yearly Trendline Support 116.94
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Apparel Retail 86
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 150.00
High Date 03/07/2024
Low 144.31
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 150.00
High Date 03/07/2024
Low 144.31
Low Date 03/11/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 148.68
Support 131.58
High 151.12
High Date 02/29/2024
Low 143.32
Low Date 03/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 154.97
Support 149.96
Low 108.35
Low Date 09/27/2023
High 151.12
High Date 02/29/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 122.93
Support 116.94
Low 90.31
Low Date 11/08/2022
High 151.12
High Date 02/29/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.