RL closes within previous day's range


Polo Ralph Lauren Corp. (RL) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
RL runs into sellers again around 137.35
RL closes within previous day's range
RL ends the day indecisive
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

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.

Daily chart for RL
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 137.86 where further buy 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 bullish.

Market Conditions for Polo Ralph Lauren Corp.
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

RL pushes through previous session high

Aug 17, 2018
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