KORS pushes through previous session high
Michael Kors Holdings (KORS) Technical Analysis Report for May 17, 2018
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.
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.
Breaking through the key resistance level at 66.58 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.