TPR still stuck within tight trading range
TPR ended Monday at 53.19 gaining $0.68 (1.29%). Today's closing price of 53.19 marks the highest close since April 5th. Closing above Friday's high at 53.06, the stock confirms its breakout through the prior session's high having traded $0.58 above it intraday.
Monday's trading range was $1.13 (2.14%), that's slightly above last trading month's daily average range of $1.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 52.20 and 53.64 which it has been in now for the last trading week.
Unable to break through the key technical resistance level at 53.40, the share closed below it after spiking as high as 53.64 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After trading as low as 52.51 during the day, the market found support at the 20-day moving average at 52.62.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. Tapestry, Inc. managed to break above the 20-day moving average at 52.62 today for the first time since April 12th.
Selling might accelerate should prices move below the close-by swing low at 52.25 where further sell stops could get triggered. With prices trading close to this year's high at 54.26, upside momentum might speed up should TPR be able to break out to new highs for the year.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.
Market Conditions for Tapestry, Inc.
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Bullish Spinning Top||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|Close above the upper Bollinger Band||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Stocks Top Movers