Market Overview

Investors Cheer Coach's Q2 Results, Guidance

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Coach Inc (NYSE: COH) shares are trading higher by $2.45 at $32.80 in Tuesday's session. The catalyst for the rally is a Q2 beat for EPS of a penny with a slight miss in revenues. 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 familiar area at $33.74.

On three different occasions since January 6, rallies have ended in a $0.03 range between $33.44 and $33,47. At this time, it has pulled back and is attempting to return to the $33 handle.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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