Tuesday, November 27, 2018 12:09:44 PM
Tapestry, Inc., formerly known as Coach, Inc., is a leading design house of luxury accessories and lifestyle collections. The Company's brands include Coach, Kate Spade, and Stuart Weitzman. The stock has been under pressure since August 14, 2018 when it peaked on the daily chart. At that time, the stock hit a high at $54.35 a share. Since that peak the shares have declined sharply lower and are currently trading around the $37.25 level. Traders and investors should note that this stock is in a severe down-trend at this time. One support area that I will be watching closely will be around the $33.50 level. This is where the stock broke out in January 2016 and it will likely be defended again when retested.
Nicholas Santiago
InTheMoneyStocks
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