Coach, Inc. (COH $44.00) is a designer, producer and marketer of modern American classic accessories and a leader in the high end retail industry. Coach is part of a rapidly rising Retail -Clothing/Shoe industry group.  That group rose over the past three month period from being ranked 109th to now sit 48th, just in the top 25% of the 197 industry group listings in IBD. 

Investors should always be open to revisiting previously identified leaders.  Especially when a high-ranked leader in a good group again emerges from a bullish chart pattern, just as COH did on Thursday.  It broke out from a better than 7-week base, closing at a new all time new high on better that twice its average daily trading volume.  Its pattern has been far from smooth, but it recently completed a double bottom and a base-on-top-of-a-base pattern, and the latest action triggers a technical buy signal within the usual guidelines.

Overall the stock is highly ranked by IBD with a steadily increasing annual earnings and strong quarterly sales and earnings increases in its recent history.  Only a high volume failure back into its prior base would be cause for concern and a technical sell signal. Otherwise, the situation looks encouraging for existing shareholders, and some with profits may even be wise to consider averaging up their cost basis with more modest purchases where it might be appropriate.

More Info: 5-year Chart from BigCharts.com

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