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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
