Tiffany Topping

Tiffany's (TIF) healthy rally off last month's spike low appears to be running out of steam. The stock is retesting its 52-week highs this week, a level that marked an ugly downside reversal back in late August. A failure here, near $83.50, could potentially leave behind an important double top. Since volume is uninspiring and shares are nearing an overbought level, Tiffany could be very vulnerable in the near term.

Two weeks after taking out key support at the September lows, Tiffany mounted a sharp upside reversal. On Oct. 10, the stock jumped 2% with the help of an upgrade from Sterne Agee. The well-timed bump preceded an impressive rally that carried shares steadily higher over the next five weeks.  A key move came last Monday when the stock jumped 2.2%, taking out its September highs in the process. The ramp carried the stock higher, and as this week began, Tiffany was back above $83.00. In all, the stock had rallied over 13% in less than six weeks....132 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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