Ross Stores' stock (ROST) tumbled 26% in the last session after reporting first quarter results, missing estimates on profits and sales.
The company reported 97 cents per share on earnings of $4.33 billion, with analysts expecting a dollar on every share with earnings of $4.53 billion, with sales now down 7%.
The stock is exposed to negative pressure after touching the resistance of the 50-day SMA, while recouping some losses and venting off oversold saturation in the RSI, amid the dominance of the downward trend in the short term, marking a loss of 0.11%, or 10 cents, settling at $92.70, with trading volumes surpassing 7.3 million shares, above 10-day averages of 4.2 million shares.
Therefore we expect more losses for the stock, targeting the pivotal support of 84.44, provided the resistance of 103.62 holds on.
Expected trend for today: Bearish