Ralph Lauren Corporation

  • RL

  • $168

  • +4.32%

  • $164

  • $170

  • $163

Ticker Appearances

Fri, February 9, 2024 | 10:52AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Fri, February 9, 2024 | 10:52AM ET
Ralph Lauren (RL 4.32% ) this also is attractive on an intermediate-term basis following this week's breakout of a very lengthy base. The key for technical targets normally involves the initial breakout of a lengthy base, and considering the volume and acceleration out of this base. It's worth pointing out that RL has been basing sideways since 2015, nine years ago, so this high volume breakout this week is impressive and should also put this stock on every investors radar. In this case, the upside potential does not look as impressive for near-term, as May 20213 peaks happened near $193. However, at a current price of $170.93 per 2/9/24 at 10:30 am, i still expect upside and feel that any decline to 150-160 would make this a very attractive technical risk reward. Ralph Lauren is a an appealing stock for 2024 and is attractive to own on pullbacks, with minor upside expected in the weeks ahead, technically
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