Elliott Wave Forecast Team
ElliottWave-Forecast.com
Tapestry, Inc. (formerly: Coach, Inc.) is a multinational luxury fashion holding company based in New York City, USA. The parent company owns three brands: Coach New York, Kate Spade New York and Stuart Weitzman. The stock of the company being a component of the S&P500 index can be traded under ticker $TPR at NYSE. Currently, we see cotton turning higher. Also, other soft commodities are moving up. Therefore, Tapestry being a heavy weight in the textile market should be a great opportunity for investors to diversify their portfolio by indirect investement in the rising prices of particularly soft commodities.
Tapestry monthly Elliott Wave analysis 07.03.2021
The Monthly chart below shows the Tapestry shares $TPR traded at NYSE. First, the stock price has developed a leading diagonal higher in blue wave (I) of super cycle degree. It has printed the all- time highs in March of 2012 at 79.70. From the highs, a correction lower in blue wave (II) has unfolded as an Elliott wave double three pattern. It has printed an important bottom in April of 2020 at 10.18. As a matter of fact, the stock price has lost 87% of its value in only 8 years.
From 2020 lows, a new cycle in wave (III) has already started and should extend towards 79.70 highs and beyond. Then, the target for wave (III) will be towards 89.90-139.21 area and even higher.
Tapestry daily Elliott Wave analysis 07.03.2021
The daily chart below shows the early stages of the blue wave (III). From April 2020 lows, $TPR has developed a textbook impulse higher in red wave I. It has ended in May 2021 at 49.66. From the highs, consolidation in wave II might have just started. Investors and traders can be looking to buy the pullback in 3, 7 or 11 swings against 10.18 lows targeting 89.90-139.21 area and even higher in the long run.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.