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....
Following the close of the Q3 2024 financial year (ended on 30 December 2023), renowned clothing brand Ralph Lauren Corp. announced a notable 6% year-on-year increase in quarterly revenue, reaching 1.93 billion USD. This impressive performance enabled the company to elevate its adjusted earnings by 24% year-on-year to 275 million USD, or 4.17 USD per...
Analyzing the options chain of RL Ralph Lauren Corporation prior to the earnings report this week,
I would consider purchasing the 100usd strike price Puts with
an expiration date of 2024-1-19,
for a premium of approximately $8.30
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read...
I am bullish on this stock there are some reasons for it. As I see there is a nice uptrend as moving averages supported it. this week stock tested its 20 EMA and did not break it down. I guess as soon as the price stay above moving averages it could bounce up.
An under-the-radar trend in recent weeks has been strength in legacy retailers like Macy’s , Gap and Ross Stores. Today’s chart focuses on a potentially bullish pattern in peer Ralph Lauren.
Notice the series of higher lows since November 10, when earnings and revenue beat estimates. There’s also a resistance zone around $104.50. The result is an ascending...
Price pulled back after earnings yesterday even though i think they beat estimates.
I did see a few rising wedges on hourly before earnings and bottom trendlines were broken during pull back yesterday. Appears to be recovering. Price waas also over the top band set on 80 right before earnings which often indicates overbought status.
Short interest is 8.04%...
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...
RL ER is supposed to be significantly better post COVID. With positive ER, expect price to move towards, and potentially fill the gap.
Setup
1. Breakout of recent downtrend with growing volume.
2. Support from daily 200MA.
3. Price jumped to daily 50MA and anchored VWAP from last volume spike.
4. Chart Gap
Entry
1. Confiration on current support with loading...
Perhaps the bearish divergence has already been played out and we are waiting for a recovery to the last HIGH.
The candle is very bullish.
On the daily chart, you can see bullish divergences on the RSI , MACD .
big trendline resistance here, that doesn't mean its not a great longterm bet, but there could be a big dip before the next rip. consider taking profits here if you are long.. dip entry will be around 82-85 in my opinion. goodluck :)
We had a breakdown recently from my previous idea but it held strong at the 107.00 support. Bulls are looking to regain control and break through the 110.00 mark, once it does i'm long on this great retail company.
Talking Points - Low debt, PT Upgrades, Long Term Strong Brand, Trying New Tech With 3D Augmented Reality Fitting & More.
RL is looking great with upgrades from Goldman, Citigroup, and more. This retail chain is ready for some big upside as people go out and try to return to normal activities. Buying in retail will also be fueled by 2nd possible stimulus payments in the near future. Price action looks great with a strong volume node at the 109.00 mark. RL also has been making higher...
