Coach, Inc. provides luxury accessories and lifestyle collections for
women and men in the United States and internationally. It offers
handbags, money pieces, wristlets, rings, charms, and cosmetic cases for
women; and business cases, computer bags, messenger-style bags, totes,
wallets, card cases, and belts, as well as time management and
electronic accessories for men. The company also provides wearables,
such as outerwears, gloves, scarves, and hats; jewelry comprising
bracelets, necklaces, rings, and earrings made with sterling silver,
leather, and non-precious metals; travel bags, including luggage, travel
kits, and valet trays; fragrances comprising eau de perfume spray, eau
de toilette spray, purse spray, and body lotion for women; and
fragrances for men, as well as footwear, watches, and sunglasses.
Take a look at the 1-year chart of Coach (NYSE: COH) with the added notations:
COH has been trading basically sideways for the last 4 months. You
will notice that during that time the stock has found support at $33
(blue) whenever that level has been approached. Now the stock is almost
there again. A bounce from that level should lead to a run up to the
common resistance area at $36 (red).
The Tale of the Tape: COH has a key level of support
at 33. A trader could enter a long position at $33, or on a break above
$36, with a stop placed under the level. If the stock were to break
below $33 a short position could be entered instead.
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