Back to top

Image: Bigstock

Ross Stores (ROST) Crossed Above the 50-Day Moving Average: What That Means for Investors

Read MoreHide Full Article

From a technical perspective, Ross Stores (ROST - Free Report) is looking like an interesting pick, as it just reached a key level of support. ROST recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.

Moving Average Chart for ROST

Over the past four weeks, ROST has gained 8.1%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider ROST's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, while the consensus estimate has increased too.

Investors should think about putting ROST on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Ross Stores, Inc. (ROST) - free report >>

Published in