RL closes within previous day's range after lackluster session


Polo Ralph Lauren Corp. (RL) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
RL closes above its opening price after recovering from early selling pressure
RL closes within previous day's range after lackluster session
RL ends the day indecisive
TQ Sentiment
Report Sentiment: 37% Bullish
Technical Forecast:
Overview

RL finished Monday at 111.99 gaining $0.84 (0.76%). Trading up to $0.91 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past 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 RL
Volatility

Monday's trading range was $1.52 (1.36%), that's far below last trading month's daily average range of $2.81. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 110.64. Prices are trading close to the key resistance level at 112.69.

Trend

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

Order Flow

Selling might accelerate should prices move below the close-by swing low at 109.32 where further sell stops could get activated.

Conclusion

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

Market Conditions for Polo Ralph Lauren Corp.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

RL pushes through prior session high

Jul 18, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Polo Ralph Lauren Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

CRUDE 67.931.25 1.87%
DAX 12,765.94104.40 0.82%
FTSE 7,676.2849.98 0.66%
BTCUSD 7,385.8446.70 0.64%
CAC 5,447.4424.90 0.46%
GOLD 1,227.3-0.1 -0.01%
USDJPY 112.84-0.04 -0.04%
NKY 22,764.68-29.51 -0.13%
NDX 7,390.13-13.76 -0.19%
TBOND 144.812-0.282 -0.19%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV94.40 -1.01
-1.06%
ACN 10 day candlestick chart for ACN166.38 -1.69
-1.01%
ADBE 10 day candlestick chart for ADBE259.78 1.47
0.57%
AAP 10 day candlestick chart for AAP139.97 -0.31
-0.22%
AES 10 day candlestick chart for AES12.73 -0.12
-0.93%
AET 10 day candlestick chart for AET191.33 -0.21
-0.11%
AFL 10 day candlestick chart for AFL43.26 0.32
0.75%
AMG 10 day candlestick chart for AMG151.25 2.76
1.86%
A 10 day candlestick chart for A62.99 -0.05
-0.08%
ABT 10 day candlestick chart for ABT64.75 1.95
3.11%