A quick look at yesterday: without a clear direction, Tapestry closed at $35.95 while ranging between $35.49 and $36.2.
United States Consumer Confidence is next today at 15:00 UTC.
This uncertain state for Tapestry is reflected by published market data as United States Building Permits (Nov) released yesterday at 13:30 UTC with a figure of 1.34 million, while the previous figure was 1.51 million. United States API Weekly Crude Oil Stock came out at -3 million, while a consensus of analysts was expecting -167,000. United States Housing Starts (Nov) released yesterday at 13:30 UTC with a figure of 1.43 million, while the previous figure was 1.43 million.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Tapestry's upper Bollinger Band® is at $38.73 and the lower is $35.6. A study of Tapestry's historical price actions shows Tapestry bounced after reaching the $35.53 support zone, climbing 42 cents above it.
The current technical outlook indicates Tapestry will continue to ebb sideways within tight ranges for the immediate future.
Meanwhile, mixed performances were seen by other consumer discretionary stocks as Tesla closed at $137.8 (down 8.05%). Walt Disney was up 1.45%. Alibaba closed at $85.92 (down 1.42%).
Data to be released today might clear up some of the market fog as United States Crude Oil Inventories projected to decline to -1.66 million while previous data was 10.23 million; data will be released today at 15:30 UTC. United States Initial Jobless Claims expected to decline to 222,000 while its preceding data was 211,000, data will be available tomorrow at 13:30 UTC. United States Existing Home Sales (Nov) is scheduled for today at 15:00 UTC.
The stock has been trending positively for about 2 months. 7 months ago, the modern luxury accessories and lifestyle brands specialist fell to a low of $26.52 but has since recovered 35.52%.