Tapestry Stock Could Overcome Technical Resistance

TPR's 40-day moving average could give it a boost

Digital Content Manager
Sep 12, 2022 at 1:16 PM
facebook X logo linkedin

Tapestry Inc (NYSE:TPR) is down 1.9% at $36.21 at last check, after Jefferies raised the stock's price target to $47 from $45, following the company's Investor Day, where it detailed three-year targets that were above analysts' expectations. Additionally, it looks as though the equity's rally may have legs, given TPR recently approached a trendline with historically bullish implications. This could help the shares overcome a long-term ceiling at the $37.50 region and trim its 10.8% year-to-date deficit.
According to Schaeffer's Senior Quantitative Analyst Rocky White's latest study, TPR is now within one standard deviation of its 40-day moving average. The security has seen five similar signals over the last three years, and was higher one month later 80% of the time, averaging a 7.9% gain for that period. A comparable move from its current perch would place it over the $39 level for the first time since March.


TPR 40 Day

Options look like a solid route as premiums are looking affordable right now. The security's Schaeffer's Volatility Index (SVI) of 39% stands higher than just 13% of readings from the past 12 months. In other words, these players are pricing in low volatility expectations right now.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI