I Was Wrong About Tiffany

Three months ago, I wrote about Tiffany and their quarterly earnings.

Tiffany Isn’t Shining Bright At The Moment – Part II

One month ago, I wrote about how Tiffany missed analysts’ estimates of $1.05 billion in revenue for its third quarter, reported sales of $1.01 billion. Its same-store sales also disappointed investors and missed estimates by 2.3% and lowered its guidance for same-store sales growth.Last week, Tiffany stock price broke though the daily supply at $82. This level now becomes resistance. As price breaks the $82 level, it formed another daily supply at $87. The chart suggests there is further downside risk.

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