Short term view - ROSS STORES INC : Weak reaction on resistance.
The previous high has been passed, the bullish trend is confirmed. The next target is at $90.00. The invalidation level is below $83.60.Arguments :
- Prices made a new all-time-high, this confirms the strength of the trend.
- The moving average is supporting prices.
- The reaction at the resistance is weak, we anticipate its break soon.
Ross Stores and its subsidiaries operate two brands of off-price retail apparel and home fashion stores, which are Ross Dress for Less? (Ross) and dd's DISCOUNTS?. Ross provides name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. dd's DISCOUNTS provides name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Both of the company's Ross and dd's DISCOUNTS brands target women and men between the ages of 18 and 54.
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