COTY still stuck within tight trading range


Coty, Inc (COTY) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
COTY finds buyers at key support level
COTY pushes through 50-day moving average
COTY fails to close above 20-day moving average
COTY finds buyers again around 14.00
COTY still stuck within tight trading range
TQ Sentiment
Report Sentiment: 44% Bullish
Technical Forecast:
Overview

COTY ended the week 0.56% higher at 14.24 after gaining $0.20 (1.42%) today on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for COTY
Volatility

Friday's trading range was $0.36 (2.56%), that's slightly below last trading month's daily average range of $0.37. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 13.97 and 14.46 which it has been in now for the last trading week.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

After trading as low as 14.00 during the day, the market bounced off the key support level at 14.04. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move lower than 14.03 in the prior session, Coty, Inc found buyers again around the same price level today at 14.00. After spiking up to 14.36 during the day, the stock found resistance at the 20-day moving average at 14.25.

Trend

While the share 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. COTY managed to break above the 50-day moving average at 14.20 today for the first time since July 10th.

Order Flow

Buying could speed up should prices move above the close-by swing high at 14.46 where further buy stops might get triggered. Selling could accelerate should prices move below the nearby swing low at 13.97 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Coty, Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Hanging Man TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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