Long

$TPR Tapestry, Inc. - Possible Cup & Handle Forming

Tapestry, Inc. - Possible Cup & Handle Forming on the Daily Chart

Bullish hammer today on the daily chart, bouncing off support just above $16. Resistance level up above at about $18.10 - anticipating a move back to this level near term with an eventual breakthrough sometime in October. Once we get a close above $18.10, expect a strong move to follow.

Near term price target: $20.00-$21.00 range by mid-Oct

Adding to the bullish sentiment, there was also some unusual bullish options activity with 3k $17.50 strike (out-of-the-money) May'2021 calls traded today vs open interest <400 or about 9x OI for total premium of ~850K.

Note: This is NOT investment advice.

Triple_Barrel_Capital

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.