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Watch for Coach to Potentially Pullback After Gaining 1.11% Yesterday
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Coach (NYSE:COH) traded in a range yesterday that spanned from a low of $74.35 to a high of $76.25. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $75.12 on volume of 3.3 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 subscribers consider buying shares of Coach on January 9th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.87. Since that recommendation, shares of Coach have risen 19.3%. We continue to monitor COH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Coach have traded between a low of $45.70 and a high of $76.25 and are now at $75.84, which is 66% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 1.21% higher over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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