Coach - COH

[Took2Summit]

Interested on people's perspectives. I think this stock looks good on both a fundamental and a technical level.

Earlier this year I bought COH at 48.50 and then sold it about a month later at 58.50. now in the last month and a half or so its been consolidating around heavy resistance of 59.30.

My question for people is if you were to initiate a long, would you do it now as the cup and handle is forming. or would you wait for confirmed breakout above 60?

I have a feeling most people will say wait for breakout above 60 but interested to hear perspectives.

Also, I mostly talked about technicals, but I think the fundamentals also look very strong for this company right here.

 

[aknaya1]

Looks like a long to me. I'd do it right now. Some risk of a pullback to 56-57, but I don't think that will happen. Even if so, price should be supported by the larger bullish trendline and inverse HS support at 57. Shouldn't go below 54.

One bad sign is decreasing volume on the way up since mid-April, and really low volume in this latest move up since July. But I still think there is upside to between 64.50 and 66.50, although if that is the target that isn't a very good risk-reward (if you have a stop at 54). So really this is a better entry at 57.