ROST:Hope despite earnings miss!Ross Stores
Short Term - We look to Buy at 62.32 (stop at 53.59)
This stock has recently been in the news headlines. They missed revenue estimates for the 1st quarter. Broken out or a triangle formation to the downside. Measured move target is 61.00. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. A higher correction is expected.
Our profit targets will be 89.47 and 100.00
Resistance: 70.00 / 80.00 / 90.00
Support: 60.00 / 50.00 / 40.00
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