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July 03, 2023
Without a clear direction, Tapestry closed at $42.8 while ranging between $42.55 and $43.21.
- United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.
- Tapestry has been pretty quiet for the last 19 days, trading mostly flat and moving by only 7.2632 cents on average.
Here is the technical analysis of Tapestry before macro data is released:
Tapestry Inc made an initial break below its 21 day Simple Moving Average at $42.65, a possible indication of a forthcoming negative trend. Tapestry's upper Bollinger Band® is at $43.94, suggesting that a downward move may follow. Despite this, Tapestry is approaching key support, around 30 cents away from $42.5. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Tapestry is positioned for a downward move in the near term.
Coming up for Tapestry — United States ISM Manufacturing PMI (Jun) is expected today at 14:00 UTC.
As the markets get ready for more data to be released — Nike lost 2.65% Friday and closed at $110.37. McDonald's traded at $298.41 after closing Friday's trading day at $294.47 (up 1.34%). Amazon traded at $130.36 after closing Friday's trading day at $127.9 (up 1.92%).
The stock has been trending positively for about 29 days. 9 months ago, the modern luxury accessories and lifestyle brands specialist fell to a low of $28.43 but has since recovered 50.65%.
