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COH made a breakout on Friday. One fault, it was only 31% higher volume, but for the week was 10% above average volume. For the week it had 5 up days, three were above average. This could be considered great compared to the general market weakness. Someone was buying while all of the traders were away. It is a 3rd stage base, not good, but not as bad as all of those 4th, 5th or latter bases out there. It has a distracting distribution day on 6/24, but on 5/26 had a nice Acc day. A/D rating is B.
It broke out of a Square box base, with a buy range of 64.53 to 67.75. It only rose 16% from an April double bottom base, forming a base on base pattern.
C=EPS Est have been revised upwards for cur qtr, next qtr, cur yr and next yr
A=Strong annual growth, 2009 was down, but turned around; great ROE; pre-tax profit margins of 31.9% (compared to UA @ 10.2%); strong cash flow; low earnings tability of 10;
N=IPO in 2000
C=Declining EPS and sales growth; last qtr sales growth was 14%;
A=Profit margin change is flat and off peak
N=Decreasing fund ownership
S=Supply/Demand rating is poor; Vol as % of float is 1.2%;
L=Sector rank is 14; Ind Comp rating is 79; Ind Rank is 56, could be better, but a steady improvement from its March 21 rank of 143.
Let me know if you think this is a winner.
Absolutely agree with your read on COH. I was also encouraged by the relatively tight weeks of trading with the exception of the distribution you highlighted. If earnings were accelerating and the pop on 31% volume had been somewhat stronger (i.e., >50%), it would be on my buy list. Without that volume, and given the very light volume underlying the market's resurgence this week, I plan to keep it on my shortlist and see what happens. The story and chance of significant growth in China is encouraging as well. Brad
In regards to the only 31% volume pop on Friday. I was looking for stocks that were showing signs of strength during a week of light volume days. During a normal trading day, 31% would be light, but on a light day as last Friday, 31% was very strong. Someone was buying heavily when everyone else was away. In fact the past 4 days, including today have been above average (but below the +50% volume day). Compared to many other stocks a sure sign of someone acculating...
Robert: Its holding up nicely! Seven consecutive days of cumulative accumulation--by my math it is still legitimately "buyable" (i.e.; w/in the "+5% buy point" rule). Tomorrow may prove interesting. Earnings 8/3. Brad
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