After Yesterday's Rally of 1.52% Shares Could Potentially Pullback
Coach (NYSE:COH) traded in a range yesterday that spanned from a low of $39.48 to a high of $40.15. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $39.76 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Coach share prices have been bracketed by a low of $27.22 and a high of $42.13 and are now at $39.84, 46% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.
SmarTrend is tracking the current trend status for Coach and will alert subscribers who have COH in their portfolio or watchlist when shares have changed trend direction.
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