RL closes within previous day's range
RL ended the week 4.62% higher at 136.38 after losing $0.25 (-0.18%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $2.51 (1.85%), that's slightly below last trading month's daily average range of $3.81. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to a key support level at 134.66. Prices are trading close to the key resistance level at 137.86. After having been unable to move above 137.86 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 137.35.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 137.86 where further buy 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 bullish.
Market Conditions for Polo Ralph Lauren Corp.
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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