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This U.S. Retailer Is Heading South: Watch This Level

By InTheMoneyStocks.com (Nicholas Santiago)Stock MarketsMar 14, 2019 01:16PM ET
www.investing.com/analysis/this-us-retailer-is-heading-south-watch-this-level-200397868
This U.S. Retailer Is Heading South: Watch This Level
By InTheMoneyStocks.com (Nicholas Santiago)   |  Mar 14, 2019 01:16PM ET
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Ross Stores (NASDAQ:ROST) is a leading discount retailer in the United States whose stock has been under pressure since reporting earnings on March 5, 2019. On Thursday, the stock traded lower by $2.20 to $88.48 a share. Traders should note that the stock has now declined below its daily chart 50- and 200-day moving averages. And that's usually an indication of further weakness ahead for the stock.

Ross Support

Traders should now watch the $82.50 area for important support. This level is where the stock broke out of a down trend in early January. Generally, the institutional money will defend this area when it's retested.

Ross Stores
Ross Stores

This U.S. Retailer Is Heading South: Watch This Level
 
This U.S. Retailer Is Heading South: Watch This Level

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