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Possible Bullish Inside Day Candle Pattern Detected for Tiffany & Co (NYSE:TIF)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tiffany & Co (NYSE:TIF) based on the price action in the company's shares. Today's price range of $92.81 and $93.87 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Tiffany & Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $93.80, Tiffany & Co is currently 9.3% above its average consensus analyst price target of $85.04. The stock should discover initial support at its 200-day moving average (MA) of $75.90 and subsequent support at its 50-day MA of $70.90.

Tiffany & Co. operates jewelry and specialty retail stores and designs and manufactures its products through subsidiary companies. The Company retails its products through stores and boutiques in the United States, Mexico, Canada, and Brazil, and wholesales outside the United States. Tiffany also markets through the Internet and catalogs.

In the past 52 weeks, shares of Tiffany & Co have traded between a low of $56.99 and a high of $97.29 and are now at $93.80, which is 65% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Tiffany & Co on January 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.26. Since that recommendation, shares of Tiffany & Co have risen 12.8%. We continue to monitor TIF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle tiffany & co

Ticker(s): TIF