Good Time To Buy Coach For The Short-Term?
By John Lee on September 29, 2008 | More Posts By John Lee | Author's Website
It might be a good time to buy as Coach (COH) did bounce off its $25 support level, but only for the short-term. If I was thinking about holding COH for the long-term, I would wait until a higher low is made as well as a higher high is made by closing above $32.50, officially breaking a descending triangle pattern. These patterns have a tendency to break support and fall to the downside, so I would watch for that in the coming weeks.
In a 4-year chart, we see an almost similar “bump-and-run” reversal pattern in COH like we did in NOK (in the post below). The only difference is that COH’s decline is not as severe, but that doesn’t mean that COH doesn’t have any downside risk. You an see the reversal pattern as well as the descending triangle and where they are located in relation to their support levels.
Consumer Attitudes: The Future Of Saving And Spending
Will Emerging-Market Outperformance Last?
Economic Highlights: GDP Up 2.8%, Corporate Profits Increase By $130 Billion
Risk Aversion Takes A Back Seat In Forex Markets
Stock Market Movers: Dollar Tree, Origin Agritech, US Airways Group
Stocks Remain Mostly Negative In Early Afternoon Trading - U.S. Commentary - 1 hr ago
Stocks Seeing Continued Weakness In Late Morning Trading - U.S. Commentary - 2 hrs ago
Consumer Confidence Shows Unexpected Improvement In November - 2 hrs ago
Stocks Moving Moderately Lower Following Economic Reports - U.S. Commentary - 3 hrs ago
Annual Rate Of Decline In Home Prices Shows Continued Slowdown In September - 3 hrs ago




