Long Position on ROST @ $67.00 on 12/15/2016 (Momentum)

Ross Stores, Inc. (ROST) operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States.

It primarily offers apparel, accessories, footwear, and home fashions.

The company’s Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd’s DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.

As of October 10, 2016, it operated 1,342 Ross Dress for Less stores in 36 states, the District of Columbia, and Guam; and 193 dd's DISCOUNTS stores in 15 states. 

Shares have formed a bullish "flag" after having rebounded from their 50-day moving average (shown in green). We expect shares to move higher from these levels. 

52-Weeks Trading Range: $50.42 - $69.81

Entry Point: $67.00

Stop Loss: $63.60

Target Price: $73.70

Updates

1/17/2017 10:40:33 AM

ROST closed at $67.45. We believe shares are heading higher but stock has been on the porfolio more than 30 days.

Position closed on 1/17/2017 at price of $67.45 with a 0.67% gain in 33 days.

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