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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. Yesterday's price range of $126.60 and $127.07 is within the prior day'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.

Tiffany & Co share prices have moved between a 52-week high of $134.42 and a 52-week low of $78.60 and closed yesterday at 59% above that low price at $124.99 per share. The 200-day and 50-day moving averages have moved 0.43% higher and 0.38% lower over the past week, respectively.

Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations. The Company operates retail stores in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates, and also engages in direct selling through internet, catalog, and business gift operations.

Tiffany & Co (NYSE:TIF) is currently priced 10.4% above its average consensus analyst price target of $112.04. The stock should find resistance at its 50-day moving average (MA) of $128.91, as well as support at its 200-day MA of $115.28.

SmarTrend is tracking the current trend status for Tiffany & Co and will alert subscribers who have TIF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle tiffany & co

Ticker(s): TIF