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Technical Take: Tiffany & Co. Sharply Higher After Q3 Beat

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Tiffany & Co. (NYSE: TIF) shares are trading higher by $3.50 (4.5 percent) at $81.64 in Tuesday's session. The catalyst for the rally is a Q3 beat for EPS of $0.09 along with a revenue beat of nearly of $25 million.

Following a higher open, it continued in that direction before finally finding resistance at $84.40 and attracted some profit-takers. That high just exceeds its November 3, 2015, high of $84.01.

Since making that high, it went back through its opening price ($82.48) and continued to make lows for the session. The current one ($81.30) is still quite some distance from the top of Monday's range at $78.95.

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