Today, I am looking at American fashion company, Ralph Lauren Corp. with ticker #RL. It has been growing steadily for quite some time now, and it looks like it doesn't plan on stopping.
Though fundamentals of the company seem pretty good, I will not be going through them, I will only focus on technical analysis here, as I always do.
What am I looking at?
1. When you check the Weekly chart, you can see a massive bullish run. Stock price have increased more then 40% in the last 10 weeks.
2. Daily chart, is giving us the opportunity to position ourselves. If you missed the initial run, you still have a chance to enter at this stock.
3. Formation we can currently see on the chart is called Cup and Handle, it is forming perfectly fine. What I usually like to see in such formations is volume drying up a bit, but price is rising step by step. No unusual moves.
4. Bottom of the Cup formed perfectly, it hit the 21EMA-red line, and bounced of off it. After that, the Handle as well bounced of off the exact same moving average.
5. My first position would be the break of the previous high, sitting at $190.47 price level. Once I enter at that price level, my stop loss will be below the 21EMA. To be precise, it will most likely be put just below the Handle low, at around $181-182.
6. Once I enter, I will be closely monitoring what is the price doing, and as always, I will be updating you.
Please do your due diligence with investing your hard earned money. Thanks and good luck!
Though fundamentals of the company seem pretty good, I will not be going through them, I will only focus on technical analysis here, as I always do.
What am I looking at?
1. When you check the Weekly chart, you can see a massive bullish run. Stock price have increased more then 40% in the last 10 weeks.
2. Daily chart, is giving us the opportunity to position ourselves. If you missed the initial run, you still have a chance to enter at this stock.
3. Formation we can currently see on the chart is called Cup and Handle, it is forming perfectly fine. What I usually like to see in such formations is volume drying up a bit, but price is rising step by step. No unusual moves.
4. Bottom of the Cup formed perfectly, it hit the 21EMA-red line, and bounced of off it. After that, the Handle as well bounced of off the exact same moving average.
5. My first position would be the break of the previous high, sitting at $190.47 price level. Once I enter at that price level, my stop loss will be below the 21EMA. To be precise, it will most likely be put just below the Handle low, at around $181-182.
6. Once I enter, I will be closely monitoring what is the price doing, and as always, I will be updating you.
Please do your due diligence with investing your hard earned money. Thanks and good luck!