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TimerFrank
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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Tiffany & Co (NYSE: TIF) Could Go Lower Still  0 comments
    Jan 31, 2011 4:32 PM | about stocks: TIF

    February 1, 2011

    Shares of Tiffany & Co (NYSE: TIF) have steadily declined since their closing rally high at $65.44 back in mid-December, dropping some 11.2%.

    There is support at about $57.00 a share, some 2% below Monday’s January 31 close at $58.13.

    But with share prices now below their 50-day moving average, Tiffany could decline to the next support level if support is broken. That support is the 50% retracement of the entire July to December advance, at $50.78 a share, another 12.6% lower.

    If shares can rise above and close above $60.00 a share, we could see buyers step back in and halt the decline. But the odds favor lower lows ahead and the next support level being reached.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not currently hold a position in Tiffany & Co.

    Themes: Tiffany Co, tiffany, TIF, market timing, fibtimer.com Stocks: TIF
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