Strong Earnings Send Tiffany Co. Into Key Long Term Resistance

Tiffany Co. (TIF) has posted one of the bigger earnings surprises this week, with results for the quarter coming in at 70 cents per share. This was well above the consensus estimate of 53 cents. The stock has seen gains since the release, but we will need to see a clear break of long term resistance at 81.80 before committing to bullish positions. The technical picture supports the fundamental arguments here, with an ascending triangle visible since Sept. 2009. Look to enter into daily CALL options in TIF on a break above the 81.80 level.

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