Falling for four consecutive days, Tapestry ended the session at $40.9 (down 0.63%)

Yesterday at a glance: during yesterday's session, Tapestry toiled and struggled for upward momentum before closing at $40.9. By the close, the the modern luxury accessories and lifestyle brands specialist suffered a 26 cents or 0.63% loss.

Trend and momentum analysis indicates 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. Analysis based on the asset volatility indicates that Tapestry's lower Bollinger Band® is at $40.63, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

With market volatility ebbing, the current technical outlook indicates Tapestry will remain range-bound for the immediate future.

Tapestry was not the only decliner in the consumer discretionary sector; Toyota dips 1.78% yesterday to close at $135.9. McDonald's dips 1.25% yesterday to close at $270.57. Walt Disney closed at $93.2 (down 1.16%).

Trending downwards for around a month. Over the past a month, the luxury fashion company has retreated 11.71% from a noteworthy peak of $46.62.