Tiffany has had quite a recovery and pop after earnings but we see this as slightly overdone and unjustified. Tiffany is still trading at quite high multiples in comparison to major competitor Signet Jewelers. We would suggest reducing any holding as 200ma and major resistance approaches, a conservative reversal area is between $97 - $92 .
Tiffany Company had the highest percentage gain for the S&P500 on Friday, defying the overall stock market rout that day as stocks slumped downward. TIF ran up strongly on a positive earnings report after an at-open minor gap down. The stock has completed the initial phase of a short-term bottom. Looking for an entry to move higher above this resistance, perhaps...
Tiffany & Co., through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and...
TIF had a gap up and moved strongly. However, the movement has faded in the recent days and the day chart has made a lower high with a large bear bar. Trend line has been broken which suggests that the gap is being attempted to the filled.
Disclaimer: This is my idea and I am just a novice, so this is not a recommendation.
First, let's take a look at the results. Tiffany reported comparable-store sales rose 8% in Q2. The revenue in Asia-Pacific grew an astonishing 28%, followed by Japan (+11%). The company recorded the weakest growth figures in Europe (+5%).
Gross margin rate improved 150 bps to 64% reflecting lower wholesale sales of diamonds, favorable product input costs...
Yes, fears for TIF aren't over and this scenario will clarify better what's next... At the moment 94.58 could be a target to respect.
Have a Good Weekend,
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