KORS finds buyers around 65.02 for the third day in a row
KORS finished Monday at 65.50 edging higher $0.12 (0.18%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.83 (1.26%), that's far below last trading month's daily average range of $1.53. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 64.62 and 66.58 which it has been in now for the last trading week.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to a key support level at 64.77. The share found buyers again today around 65.02 for the third trading day in a row after having found demand at 65.01 in the previous session and at 65.03 two days ago.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying might speed up should prices move above the close-by swing high at 66.58 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 65.01 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Close to S1 Support||TQ Pro Members Only|
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