Tiffany (TIF) has been in a weekly downtrend since the middle of 2011.
GAP REVIEW
On November 29, 2012, TIF gapped down under a daily pivot. The breaking of the daily pivot confirms the weekly downtrend is still intact.
KEY LEVEL
TIF just traded below its gap down price of $58.17 and is drifting lower.
THE TRADE
Short any bounce under $58.17. Stop over $60.08. Target $51.00-$52.00 demand area.
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