Maker and seller of all-things-leather Coach is doing something interesting with its chart: looking close, you can see it has been trapped in a rather narrow range between about $33 and $37 for many months…..
This, to me, represents an attractive short opportunity because not only are we at the upper end of the range shown above, but viewed in the larger context, you can see that Coach (which has been in its own private bear market since August 2012, incredibly) is vulnerable to having this range taken out to the downside to continue its weakness.
