Tiffany's Interesting Twist

Tiffany & Co. (TIF) is interesting again. The company posted a great outlook at the end of November, pushing shares up nicely. Now, after a week of consolidation, TIF has broken higher from a flag pattern. Before I get too excited, the current intraday candlestick is worth noting. Right now, we have the potential to close the day with a doji pattern. Usually, this is seen as a pattern of indecision or even a reversal of trend. The trend really has been one of consolidation, so I would interpret the doji as a non-committed breakout. We need to see another day of strong action to pursue this name. If we get a five-day high in the volume, that would be something worth noting and give the bulls a slight edge going into tomorrow. I'm leaning long, but I just need to see a little something more. Any close below $87.50 and I lose interest in the long side. In fact, I believe we would see a quick test of $86; a short scalp will be on the table below $87.50.

TIF Source: View Chart » View in New Window »

Newell Rubbermaid (NWL) has quietly put together a solid 40% run higher this year. If we see a close above $30.70, this stock may not be done. There is solid support under the stock, along with a 2% yield, so not a bad name for the middle-of-the road investor looking for upside potential along with a little income. Nothing fundamentally will blow folks away on this, nor make them rush headlong into the stock, so the tech picture is all I am looking at here....46 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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