Without a clear-cut direction, Tapestry is trading around $34.84 and ranging between $34.6 and $35.85.
- Tapestry is currently trading at $34.84 following the release of Existing Home Sales (Oct) data from the United States.
- While flat so far today, Tapestry is on a 4 day bullish trend, gaining a total of 64 cents throughout.
United States Existing Home Sales (Oct) released today at 15:00 UTC with a figure of 4.43 million, while the previous figure was 4.71 million. United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2.
Tapestry Inc made an initial break below its 5 day Simple Moving Average at $34.77, a possible indication of a forthcoming negative trend. Tapestry's upper Bollinger Band® is at $35.76, suggesting that a downward move may follow. In contrast, Tapestry is approaching key support, around 90 cents away from $33.95. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Although price action remains in a stalemate, technical analysis suggests Tapestry could be primed for a break to the downside.
Alibaba is down 4.43% from the beginning of the session and now trades around $80.53. Amazon is trading around $93.15 (down 1.79%). Tesla is down to $178.95, losing 2.3%, after ending yesterday at $183.17.
The stock has been trending positively for about a month. Having set a significant high of $46.2 6 months ago, Tapestry is trading 31.56% lower.