News Breaks
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| 10:56 EDT |  | TIF |
| theflyonthewall.com: | Tiffany: Earnings release technical preview, large short-base, gap risk | | BULLISH CASE: On better than expected news/outlook the stock could trade to the upper limit of the short-term bullish price channel at $42.71. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $42.07, $42.74, $43.56, $44.23 -- new year-to-date high, $44.95, $45.69, $46.56, $47.93. BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $41.63. On a bearish breakdown below the price channel the following support levels would become downside objectives: $41.24, $40.61, $40.00, $39.35, $38.75, $38.13, $37.48, $36.89, $36.26. NOTE: Large short-base at 4 days to cover, with 7.8% of the float short. Traders are positioned for negative news. Reactions on a surprise, especially a positive one given the large short-base, have a high probability of being extreme in duration and price. Very high gap risk. :theflyonthewall.com |
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