PVH finds buyers around 153.26 for the third day in a row


PVH Corp. (PVH) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
PVH finds buyers around 153.26 for the third day in a row
PVH breaks below 100-day moving average
PVH closes below its opening price unable to hold early session gains
PVH unable to break through key resistance level
PVH finds support at 20-day moving average
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:
Overview

PVH finished the week 1.92% higher at 153.74 after losing $2.44 (-1.56%) today. Trading $1.03 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for PVH
Volatility

Friday's trading range was $2.72 (1.76%), that's slightly below last trading month's daily average range of $2.97. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 155.04, the stock closed below it after spiking as high as 155.98 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. The share found buyers again today around 153.26 for the third trading day in a row after having found demand at 153.29 in the prior session and at 153.54 two days ago. After trading as low as 153.26 during the day, PVH Corp. found support at the 20-day moving average at 153.28.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. PVH broke below the 100-day moving average at 154.80 today for the first time since July 30th.

Conclusion

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

Market Conditions for PVH Corp.
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Bearish Belt-hold TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

PVH breaks below 20-day moving average

Aug 15, 2018
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