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Look for Shares of Tiffany & Co to Potentially Pullback after Yesterday's 1.88% Rise
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Tiffany & Co (NYSE:TIF) traded in a range yesterday that spanned from a low of $63.91 to a high of $65.80. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $64.89 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Tiffany & Co on November 23rd, 2011 by issuing a Downtrend alert when the shares were trading at $70.33. Since that call, shares of Tiffany & Co have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, Tiffany & Co share prices have been bracketed by a low of $54.58 and a high of $84.49 and are now at $65.57, 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.
Write to Chip Brian at cbrian@mysmartrend.com
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