COH Slammed: Where To Buy

Coach Inc (NYSE:COH) is taking a beating today, falling 10%. Concern over competition is taking its toll as sales estimates are being dropped. Where is the bottom? Let's explore. The first significant daily support level is $33.50. At this point the stock should have a solid multi-day, maybe even a multi-week bounce. Longer term, be careful with this equity as it may continue its slide. View this only as a swing trade long at that level.

Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com