TPR closes within previous day's range


Tapestry, Inc. (TPR) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
TPR closes above its opening price after recovering from early selling pressure
TPR finds buyers again around 43.95
TPR closes within previous day's range
TPR ends the day indecisive
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

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.

Daily chart for TPR
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

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

Market Conditions for Tapestry, Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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