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There's Magic In Tiffany Blue

Published 04/03/2013, 01:09 AM
Updated 05/14/2017, 06:45 AM
TIF
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RSI
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NOTE
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Tiffany’s, (TIF), looked like a dud after reporting earnings 2 weeks ago. I did however note that the longer term price action looked very bullish. Tuesday's price action created the trigger for a what could be a strong move higher, breaking above the consolidation channel at 70.85. The chart below highlights the Measured Move higher that would target 77.61, and the Deep Crab Harmonic pattern that has a Potential Reversal Zone at 80.27. Note that the Relative Strength Index (RSI) is bullish and running higher with a Moving Average Convergence Divergence indicator (MACD), that is turning back higher and crossing to positive on the histogram.

TIF
A quick glance to the left shows that there is a void in previous price history at these levels, which also will make a move higher easier. Finally, the 3-box reversal Point and Figure Chart has a Price Objective of 78, in the same zone. What are you waiting for? Diamon season is on.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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