COTY pushes through key resistance level

Coty Inc. Class A (COTY) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


COTY pushes through key resistance level
COTY ends the day on a bullish note closing near the high of the day
COTY finds buyers again around 13.93
COTY rises to highest close since May 16th
COTY stuck within tight trading range


COTY ended Thursday at 14.26 gaining $0.26 (1.86%). Today's closing price of 14.26 marks the highest close since May 16th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (COTY as at Jun 14, 2018):

Daily technical analysis candlestick chart for Coty Inc. Class A (COTY) as at Jun 14, 2018

Thursday's trading range was $0.37 (2.64%), that's slightly above last trading month's daily average range of $0.36. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 13.93 and 14.37 which it has been in now for the last three days.

Breaking through the key resistance level at 14.09 today, it is now likely to act as support going forward. After having been unable to move lower than 13.93 in the previous session, the stock found buyers again around the same price level today at 13.93.

Though the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Buying could accelerate should prices move above the nearby swing high at 14.37 where further buy stops might get activated.

Market Conditions for COTY as at Jun 14, 2018

Loading Market Conditions for COTY (Coty Inc. Class A)...
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COTY finds buyers again around 12.72

May 23, 2019
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