October 1, 2020, 12:22 pm EDT
Dress for Less, Buy for More
Waiting for another round of 2.2 trillion dollar to be distributed to US companies and individuals, stock markets cheer and celebrate this money printing event. Bed Bath & Beyond (BBBY) leads all retailers with +33% jump today is an example of this phenomenon. Holiday shopping seasons are another driving power for people to spend their wallets.
There are many kinds of retailers from high-end to low-end. We are interested in mark-down retailers like Ross (ROST), TJMax (TJX) where products are decent but prices are affordable. It fits well to this economic background that people want to spend cautiously during pandemic.
Technically, ROST sets up sideway consolidation for the past couple months after first uptrend from 64 to 104. Currently, 96 could provide a breakout chance with a sell-stop 88.