KORS pushes through previous session high

Michael Kors Holdings (KORS) Technical Analysis Report for May 17, 2018

Highlights

KORS pushes through key resistance level
KORS closes higher for the 7th day in a row
KORS pushes through previous session high
KORS rises to highest close since April 30th

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

Moving higher for the 7th day in a row, KORS finished Thursday at 66.71 gaining $0.92 (1.4%). Today's closing price of 66.71 marks the highest close since April 30th. Closing above Wednesday's high at 66.37, the market confirms its breakout through the prior session's high having traded $1.12 above it intraday.

Daily chart for KORS

Volatility

Thursday's trading range was $1.67 (2.54%), that's slightly above last trading month's daily average range of $1.53. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 66.58 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's high at 70.00, upside momentum might accelerate should the stock be able to break out to new highs for the year. As prices are trading close to May's high at 67.70, upside momentum could speed up should the share mark new highs for the month.

Conclusion

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

Market Conditions for Michael Kors Holdings

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