PVH closes within previous day's range after lackluster session


PVH Corp. (PVH) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
PVH unable to break through key resistance level
PVH closes higher for the 2nd day in a row
PVH stuck within tight trading range
PVH closes within previous day's range after lackluster session
PVH ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, PVH ended the week 1.26% higher at 148.27 after edging higher $0.06 (0.04%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond 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.

Daily chart for PVH
Volatility

Friday's trading range was $2.43 (1.64%), that's below last trading month's daily average range of $3.02. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 147.07 and 149.99 which it has been in now for the last three days.

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

Unable to break through the key technical resistance level at 149.33, the stock closed below it after spiking as high as 149.86 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 147.07 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 bearish.

Market Conditions for PVH Corp.
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Shooting Star TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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