RALPH LAUREN CORP Chart DailyHello traders, RALPH LAUREN CORP is in a fake bearish configuration with seller trace and low sell volume issued. On the TIMEFRAME M1 we see a marubozu with an abnormal purchase volume, it is heading right into the VWAP to break it. Great propability of breakout the price then at the same time of breakout a stabilization zone to reach the next higher (See TIMEFRAME H4). And if the buyers are really back to get to the point above (see TIMEFRAME H1). Little force for arrival on half of the intermediate median of ANDREWS PICHTFORK.
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RL trade ideas
ABC Bullish Double Bottom Bottom FishingRL has been in a down trend for a long time.
The retail environment has been tough. Short interest on the high side
A Lot of R overhead but there is some room overhead
A double bottom can always come back and form a triple bottom so be aware. Patterns change. The only thing that never changes is change.
Not a recommendation
Have You Noticed?Or, is it just me?
No matter what Stock that I Sell (RL) as an example.
"They" drop the price by -$1.09
Then, "They" slowly put it back on the Market at a Higher price, than I Sold.
I have many other Stocks that this has happened to, also.
How about: AMAZ at a High of $3344
"They" drop it -$409 and the Buyers come back in.
There is Definitely enough Greed to go around.
Ralph Laure Bullish Race HorseLooking long with potential target of $180 then potentially $230. Since launch Ralph has been in a bullish trend. A worldwide well recognised brand that performs well through all seasons and market conditions. However, COVID being a complete different disaster has had an effect on consumer trends and even eliminates the option for consumers to visit stores. Clothing is one of the least wanted items at current Covid conditions. Ideally I will like price to drop to $30-$35. However, current price entry levels is also attractive, if price continues to decline then I will look to purchase higher quantities at cheaper share price . I will also look to trade Ralph for the shorter term gains.
$RL Much more Upside potential In Ralph Lauren.Having missed this stage of the recovery , a safe entry level would be on the break of the well defined downtrend.
RSi and MACD are turning very bullish and a cross above the zero line would be very positive for the stock and a buy signal.
P/E ratio 20. Reasonable.
Short interest of 9% under some pressure.
Company profile
Ralph Lauren Corp. engages in the design, marketing and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company's wholesale and retail businesses in the U.S. and Canada, excluding Club Monaco. The Europe segment caters to sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company's wholesale and retail businesses in Europe and the Middle East, excluding Club Monaco. The Asia segment covers the sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company's wholesale and retail businesses in Asia, Australia, and New Zealand. The company was founded by Ralph Lauren in 1967 and is headquartered in New York, NY
RL 10% shortRL has been rejecting near the bottom of the cloud for the past couple of days, and it just broke past the moving averages. We see it breaking through the top purple line, which has been acting as a support/resistance level dating back since 2010. I think it will move down to ~$84.90 which is where we have been seeing resistance/support action since 2/10/16, and we can also see the sharp chikou on 7/10/19.