After Yesterday's Rally of 1.36% Shares Could Potentially Pullback
Coach (NYSE:COH) traded in a range yesterday that spanned from a low of $32.23 to a high of $32.96. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $32.82 on volume of 4.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Coach has traded in a range of $27.22 to $43.87 and is now at $32.78, 20% above that low. The 200-day and 50-day moving averages have moved 0.19% lower and 0.59% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Coach on October 6th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.44. Since that recommendation, shares of Coach have risen 6.0%. We continue to monitor COH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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