Ross Stores $ROST Heads South, Watch This Trade Level
Ross Stores Inc (NASDAQ:ROST) is a leading discount retailer in the United States. The stock has been under pressure since reporting earnings on March 5, 2019. Today, the shares are trading lower by $2.20 to $88.48 a share. Trader should note that the stock has now declined below its daily chart 50 and 200-day moving averages. This is usually an indication of further weakness ahead for the stock. 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 is retested.