PVH closes within previous day's range after lackluster session
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.
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.
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.
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.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling could accelerate should prices move below the nearby swing low at 147.07 where further sell stops might get activated.
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.
|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|
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