Tapestry Stock Still Has Bullish Momentum After 52-Week High

Stock Performance and Technical Analysis - Tapestry Inc (TPR) has broken out above its early December high, reaching a fresh 52-week peak [2] - The stock recently broke above its top Bollinger Band, a technical indicator that has historically yielded strong returns [2] - The breakout occurred amid low implied volatility (IV), a scenario that has resulted in an average 9.4% gain one month later 80% of the time in the past three years [2] Share Buyback and Short Interest - Tapestry announced a $2 billion accelerated buyback plan following failed merger talks with Capri Holdings (CPRI) [3][4] - Short interest for TPR is 3.85% of the float, which is not extremely high but has been declining, potentially providing a tailwind for the stock [3] - Current short interest stands at 9.8% of the total available float, with 22.63 million shares sold short, moving toward multi-year highs [4] Options Trading and Leverage - The recommended call option for TPR has a leverage ratio of 6.8 and would double in value with a 14.7% rise in the underlying stock [4]