US Stock In Play: $TPR (Tapestry Inc)
TPR posted a weekly gain of +6.79% to close at it’s 52-weeks high at $42.14. The price acceleration was induced by a technical breakout of a Bullish Wedge chart pattern along with its 4 months trend channel, that was broken out with an 28.6% increment in its daily average volume.At the current junction,
TPR immediate classical resistance level is at $45 which was last traded in October 2018. Any upcoming correction for TPR not exceeding below $38.40 will ensue its technical strength for a further mid-term rally.TPR provides luxury accessories and branded lifestyle products through three major brands (Coach, Kate Spade, and Stuart Weitzman.) in the United States, Japan, Greater China, Other Asia, and internationally.
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