TPR closes within previous day's range
Tapestry, Inc. (TPR) Technical Analysis Report for May 17, 2018
TPR finished Thursday at 44.42 gaining $0.08 (0.18%). Trading up to $0.39 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 previous day's range, prices failed to decisively move beyond 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.
Thursday's trading range was $0.97 (2.19%), that's slightly below last trading month's daily average range of $1.07. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.
After moving lower in the previous session, the market managed to close higher but below the prior day's open, forming a bullish Harami Candle.
After having been unable to move lower than 43.95 in the previous session, the share found buyers again around the same price level today at 43.95.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.