Coty is a beauty of a pick to move higher

• Posted by Greg Harmon
• on November 11th, 2015

Coty ($COTY) makes, markets an distributes beauty products around the world. They have ties to Calvin Klein, Davidoff, Beyonce, Gwen Stefani and more through their perfume lines. Their nail products include OPI and Sally Hansen. But the coolest thing to me is that they are headquarter in the Empire State Building.

The chart of the stock price is pretty cool too. It shows a long uptrend that got interrupted by a spike higher in June. Since then it pulled back and fell into consolidation. The dip in September under rising trend support connected with the 200 day SMA for the first time since the uptrend began in September 2014 and then it jumped back higher.

The price is now back at resistance at 30.50 with a a move higher Wednesday over short term consolidation. A break to the upside would look for continuation higher toward a loose Measured Move to 42. The RSI is rising and in the bullish zone while the MACD is moving higher as well. Even the Bollinger Bands® are pointing up. And that was not enough the stock has short interest over 15% to fuel a move up. Watch for the break and and some glamour to your account.

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