NinjaTrader Chart of the Day: Move Forward with Caution

Market: ($ROST,$KSS)


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Chart Analysis: Yesterday, Jim Cramer of CNBC's popular Mad Money TV show mentioned Ross Stores ($ROST) as one of his stock picks. His reasoning for interest in $ROST was that discount clothing retailers may see increased business with economic news and wary consumers awaiting the effects of proposed tax increases for 2013. To further confirm investment decisions, retail traders may also take a look at the Relative Strength Index (RSI) for $ROST; just one of NinjaTrader's hundreds of available indicators. Over the past few months, the RSI has touched the 30 line of the RSI several times which may indicate an oversold market. Traders can use this technical analysis to make decisions on what markets to invest in and which side of the market to enter. However, it is also important to remember to include news events in trading decisions. With that being said, $ROST will be reaching its ex-dividend date next Monday, December 3 rd . This is a significant event for investors planning on making a move on $ROST in the next few days. The owner of the security on the ex-dividend date will be awarded payment for this stock. Another similar stock that will be reaching its ex-dividend date on Monday is Kohl's Corporation ($KSS). It will definitely be interesting to see how all of these factors affect both of these markets in the coming weeks and how they correlate. All of the tools shown in today's NinjaTrader daily chart are available for free when you download NinjaTrader. This also includes free end of day data offered through Kinetick.


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