Put Me In Coach…..

• Posted by Greg Harmon
• on March 10th, 2014

Since it is baseball season just around the corner I would not blame you if this had you thinking about the John Fogerty song. Great song. Right season. But this is about stocks, and it is time to call you broker and say, ‘Put me in Coach.” Take a look.

The price of Coach stock ($COH) took a nose dive during the last half of January and into the beginning of February. It printed a Hammer reversal candle at 44.30 and moved higher confirming a bottom. Since then it has consolidated at prior resistance and the gap fill area. What makes it interesting is that the Bollinger bands are tightening and shifting higher as the Relative Strength Index (RSI) and MACD rise, supporting a continuation higher as the Bollinger bands express a move is coming soon. A break over 49.40 carries a Measured Move to 52.50, which would also fill the gap. It has about 10% short interest to help getting going on a break out and does not report until late April. Are you ready for the season?

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