Investors Cheering Coach Inc. Q2 Results And Full Year Guidance

Coach Inc.

shares are trading higher by $2.45 at $32.80 in Tuesday's session. The catalyst for the rally is Q2 beat for EPS of a penny with a slight miss in revenues. Also, the company expects 2016 sales to increase by low single digits. After a higher open, it retreated and found support in the upper range of Monday's session ($32.17), reaching $32.10 before resuming its move higher. The ensuing rally has found resistance just above a familial area at $33.74. On three different occasions since January 6 rallies have ended in a three cent range between $33.44 and $33,47. At this time, it has pulled back and is attempting to return to the $33 handle.