TUP closes above its opening price after recovering from early selling pressure


Tupperware Brands Corporation (TUP) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

TUP closes above its opening price after recovering from early selling pressure
TUP closes higher for the 2nd day in a row
TUP ends the day indecisive

Overview

Moving higher for the 2nd day in a row, TUP ended the month 47.06% higher at 4.75 after edging higher $0.05 (1.06%) today, slightly underperforming the S&P 500 (1.54%). Trading up to $0.12 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on June 25th, TUP actually lost -4.45% on the following trading day. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (TUP as at Jun 30, 2020):

Daily technical analysis candlestick chart for Tupperware Brands Corporation (TUP) as at Jun 30, 2020

Tuesday's trading range has been $0.28 (5.94%), that's below the last trading month's daily average range of $0.69. Weekly volatility is also lower, being way below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for TUP.

One bullish candlestick pattern matches today's price action, the Bullish Spinning Top.

Prices are trading close to the key technical resistance level at 4.89 (R1).

The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Buying might accelerate should prices move above the close-by swing high at 5.10 where further buy stops could get triggered.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. Though it is usually interpreted as neutral, it has actually shown to be bullish for Tupperware Brands. Out of 749 times, TUP closed higher 51.13% of the time on the next trading day after the market condition occurred.


Market Conditions for TUP as at Jun 30, 2020

Loading Market Conditions for TUP (Tupperware Brands Corporation)...
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