| 
May 20, 2023
Yesterday at a glance: the modern luxury accessories and lifestyle brands specialist hovered around the $43 level after closing Thursday at $44.13 and shedding 2.56%, as it reached reached yesterday's session close.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 191,500, while the previous figure was 216,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 179,800, while the previous figure was 195,800. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 20,000.
Tapestry Inc made an initial break below its 5 day Simple Moving Average at $42.74, a possible indication of a forthcoming negative trend. Tapestry's upper Bollinger Band® is at $44.49 which indicates a further downward move may follow. In contrast, Tapestry could begin to recover as it approaches significant support, now 72 cents away from $42.28. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Tapestry.
Tapestry was not the only decliner in the consumer discretionary sector; Nike closed at $114.76 (down 3.46%). Walt Disney dips 2.57% yesterday to close at $93.76. Alibaba goes down 2.09% yesterday to close at $85.77.
The luxury fashion company has recovered 55.22% since descending to a significant low of $28.43 around 7 months ago.
