We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ross Stores (ROST) Crossed Above the 20-Day Moving Average: What That Means for Investors
Read MoreHide Full Article
Ross Stores (ROST - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ROST crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
ROST has rallied 6.9% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests ROST could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account ROST's positive earnings estimate revisions. There have been 10 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ROST for more gains in the near future.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ross Stores (ROST) Crossed Above the 20-Day Moving Average: What That Means for Investors
Ross Stores (ROST - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ROST crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
ROST has rallied 6.9% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests ROST could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account ROST's positive earnings estimate revisions. There have been 10 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ROST for more gains in the near future.