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Coach Set to Possibly Pullback After Yesterday's Rally of 1.47%
Dec 17, 2012 (SmarTrend(R) News Watch via COMTEX) --
Coach (NYSE:COH) traded in a range yesterday that spanned from a low of $56.61 to a high of $57.91. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $57.56 on volume of 2.8 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, shares of Coach have traded between a low of $48.24 and a high of $79.70 and are now at $57.89, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.3%.
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.
Write to Chip Brian at cbrian@mysmartrend.com
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