Ralph Lauren gapped up post earnings. Currently in a downtrend, about to fill the daily gap downward towards 110.
Ex-Dividend is on the 23rd, so I'd expect a sell off on the 23rd, likely to the 110 region.
Short term: RL could spike to 120 on dividend hype this week , then see a sell off starting on the 23rd to the 110 level. Anchored VWAP from earnings is at 118, so if we reach that level, expect selling pressure from traders who bought the hype post earnings.
Medium term Outlook: Currently in a downtrend, and the weekly looks like this will see 100 in the upcoming weeks.
Bull case: There is a loading zone in the 109 - 110 area that has been wicked out already and acted as support. If RL can find a base here, a reversal would test the 115, then the 120.
No entry for now.
Ex-Dividend is on the 23rd, so I'd expect a sell off on the 23rd, likely to the 110 region.
Short term: RL could spike to 120 on dividend hype this week , then see a sell off starting on the 23rd to the 110 level. Anchored VWAP from earnings is at 118, so if we reach that level, expect selling pressure from traders who bought the hype post earnings.
Medium term Outlook: Currently in a downtrend, and the weekly looks like this will see 100 in the upcoming weeks.
Bull case: There is a loading zone in the 109 - 110 area that has been wicked out already and acted as support. If RL can find a base here, a reversal would test the 115, then the 120.
No entry for now.
