Coach Intra Day Bullish Pattern: Long Day Trade

Coach Inc (NYSE:COH) is making a bullish consolidation pattern on the intra-day chart. The key here is that the pattern is forming above the 200 moving average and is happening while the markets are reversing sharply off early gains. When this pattern forms any stock like Coach Inc and the markets are falling, it shows relative strength compared to the markets. This is even more bullish. Please note that at 2PM ET, the Federal Reserve will release a major statement.

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com