Tiffany Shows Strength
Tiffany & Co. (TIF) is displaying impressive strength today. The luxury retailer has been on the plus side since the early going and is settling in with a gain of more than 2.5% this afternoon to $62.70. Volume pacing the advance is running well above average and will be the stock's fourth such gain this month. Today's rally extension has pushed TIF through a heavy layer of resistance near the $62.35 area. A close above this area on heavy trade should be encouraging for the bulls.Tiffany & Co. (TIF) Source: TradeStation View Chart » View in New Window »
Last month, Tiffany remained in a tight range but may have put in an important bottom in the process. In late November, the stock was pounded on very heavy selling after reporting a disappointing quarter. Shares fell more than 6% after beginning the session with a steep gap lower. In December, the stock continued to drift lower reaching the $56 area by the end of the month. TIF was at its lowest level since early August before the powerful New Year's surge began. The January rally left behind a divergent bottom setting the stage for a big rebound....119 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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