TASPESTRY Offer Hey guys, TASPESTRY is in a bullish dynamic with a marubozu and a high volume of purchases issued. In TIMEFRAME M1 we see an upside down hammer candle with a large purchase volume, it is in full breakage of the base of the bollinger. To go on its last low and make a turnaround. TAPESTRY will re-test the highest starting on the VWAP in order to break it and come again to test the top of the consolidation zone. Great possibility of breaking out the price with its momentum at the same time for the zone to arrive on the second zone and to put on the next high.
It starts at the top of a consolidation zone for test then breakout before adjustment (on TIMEFRAME H4, H1). After reaching the high point on TIMEFRAME D1 similar excess of TIMEFRAME H1 for filling a bearish breakout gap. Next last previous higher TIMEFRAME H4 + excess TIMEFRAME H1 end up testing the top of the bullish channel symbolic number of 37.00
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TPR trade ideas
interesting In this company i observed these prices using fibo.tools :
- using Fib.Retracement (Daily mainframe) at 20.60$ , theres a good sign at level 23.6%
- using Fib.Retracement ( 4 H mainframe) at 20.26$ we have an key level.
- using the Fib.projection at 20.00$ we have another good key level
- using Fib.Extension 1 . another key level using this tools i observed at level 161.80% at price 20.06$
Go back a little and take a look at the financial models the fair value of the company in three different case :
Bearish 22.15$
Normal 33.42$
Bullish 44.59$
Summary
The price may meet the 20.00$ during next two month .
$TPR Tapestry, Inc. - Possible Cup & Handle Forming$TPR 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.
$TPR Tapestry beats but not a buy yet. EPS better than expected.
The strong Dollar a issue as the company sees a significant drop in tourist purchases.
Low single digit growth
Modest year over year decline in Gross margin.
Repurchased $300 mil of stock, their is a future $700m to repurchase authorized.
8th consecutive quarter of growth in Coach, its largest brand.
Kate Spade had comparable store sales decline.
Strong consumer overall.
Stock is in a very well defined downtrend, alert is set for a break above $29.
$TRP Reversal trade looks appealing, selling is overdone.Post earnings the stock of NYSE:TPR spiked higher but it was short lived, losing 23% from that high, China is the obvious problem for Tapestry as tariffs are going to take a large bite out of earnings. As the rhetoric became more and more negative between the USA and China retailers have witnessed drastic declines in their share price. Since the earnings report the company has announced the arrival of a new COO formerly of VFC and it is notable that one of the company directors bought a sizeable chunk of stock in May also. Indicators on the chart are pointing to a recovery and have taken a much more bullish setup.
AVERAGE ANALYSTS PRICE TARGET $43.37
AVERAGE ANALYSTS RECOMMENDATION overweight
P/E RATIO 12.48
COMPANY PROFILE
Tapestry, Inc. engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments:Coach, Kate Spade, and Stuart Weitzman. The Coach segment consists global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors. The Kate Spade segment focuses in the kate spade new york brand products to customers through Kate Spade operated stores. The Stuart Weitzman segment comprises Stuart Weitzman brand products primarily through Stuart Weitzman operated stores. The company was founded by Dawn Hughes in 1941 and is headquartered in New York, NY.
Tapestry $TPR Under Pressure, Watch This Trade LevelTapestry, Inc., formerly known as Coach, Inc., is a leading design house of luxury accessories and lifestyle collections. The Company's brands include Coach, Kate Spade, and Stuart Weitzman. The stock has been under pressure since August 14, 2018 when it peaked on the daily chart. At that time, the stock hit a high at $54.35 a share. Since that peak the shares have declined sharply lower and are currently trading around the $37.25 level. Traders and investors should note that this stock is in a severe down-trend at this time. One support area that I will be watching closely will be around the $33.50 level. This is where the stock broke out in January 2016 and it will likely be defended again when retested.
NYSE:TPR
Nicholas Santiago
InTheMoneyStocks