Roper (ROP): Big drop hits downside target

We got a request to update the chart for Roper Technologies (ROP).

We flagged a bearish setup for ROP in this blog on January 8, 2026. The stock extended lower from its bearish pennant and has quickly hit the pattern objective at the lows from mid to late 2022 near 370-356. The overall trend remains bearish, but this is a place where investors who are short ROP could take some profits.

Chart 1: Roper Technologies (ROP) (top) and relative to the S&P 500 (bottom)

Tactical rallies are possible, but the January 27 downside gap from 382 up to 407 could provide an overhang. High volume and lower lows for on-balance-volume confirmed this as a bearish continuation gap, but volume may have been so high that we cannot rule out a "selling climax".

That said, as long as interim rallies on ROP do not completely fill the gap (382-407) to suggest a both "selling climax" and a downside exhaustion gap, we consider this a bearish continuation gap. A bearish continuation gap would suggest additional lower lows within the downtrend for ROP.

The decline on ROP tested and exceeded the 370 area, which is the 100% extension of the 10/8/2025 to 10/31/2025 decline projected down from the 11/12/2025 peak. A continuation gap would point lower with the next downside target at the 161.8% extension at 317-316.

Chart 2: Roper Technologies (ROP) (top) and relative to the S&P 500 (bottom)