Ascending Channel Formation: ROST continues to trend upward within a well-defined ascending channel, targeting the upper band near $190.
Key Moving Averages Bullish Crossover: The 50-day SMA just crossed above the 200-day SMA—hello, golden cross.
RSI Momentum Breakout: RSI (14) remains at a healthy 62, suggesting bullish momentum without overbought conditions.
Fundamental Reasons Supporting an Increase:
Strong Q3 Earnings Beat: Revenue up 8% YoY with EPS growth of 12% (Q3 FY24). Management raised FY guidance, reinforcing investor confidence.
Off-Price Retail Resilience: Amid inflationary pressures, ROST’s model thrives by offering value-conscious customers an edge.
Expansion Plans On Track: 100 new stores planned by 2025, creating a pathway for revenue growth and broader market penetration.
Potential Paths to Profit:
Option 1 (Lowest Risk): Buy shares outright and hold.
Option 2 (Moderate Risk): Buy LEAP calls for potential returns based on implied move calculations.
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