Ross Stores (ROST) Price Forecast: Can ROST Break Above $245?

Overview

Ross Stores, Inc. (ROST), a prominent U.S. off-price retailer, has shown signs of recovery following a recent correction. The stock price has stabilized, indicating potential for upward movement towards higher Fibonacci targets.

Recent Performance

Following the release of Q2 2026 results, ROST's stock reached a swing low of $228.05, successfully testing support levels at both the 100-day and 50-day moving averages. Although the 50-day average briefly failed as support, it was quickly reclaimed, reinforcing the bullish outlook.

The stock previously hit a record high of $257.00 three weeks ago, and the weekly chart indicates that the pullback may have completed, with support found at the 20-week moving average.

Technical Analysis

The daily chart suggests that the correction is likely complete, with the stock closing in the upper half of the previous week's range. The current trading range is between $228.05 and $244.89, and it is anticipated that ROST may remain within this range before attempting to break above the recent high.

Multiple timeframes showing signs of completion of the correction enhance the reliability of the bullish signals. However, a decline below last week's low would indicate a bearish trend and could lead to further testing of lower support levels.

Upside Targets

Initial upside targets are set at $264.87 (127.2% Fibonacci extension) and $274.89 (161.8% Fibonacci extension). Additionally, a measured move target for a rising ABCD pattern is identified near $279.13, indicating significant potential for price appreciation if bullish momentum continues.