Nearest Resistance: $55
Nearest Support: $47.50Catalyst: Earnings, 2013 CapEx Plans Coach (COH) is another name that beat earnings this morning, but Wall Street is reacting a bit differently. Coach announced solid numbers -- beating earnings estimates by a penny -- but also dropped the bomb that 2013 would be a year filled with capital expenditures as the firm invests heavily in its Asian distributors. That sent Coach down more than 16% as I write. >>5 Volatile Stocks to Buy More Of The fact remains that Coach has been a top flier for the last few years, surprising analysts with its ability to earn a profit in spite of the worst economic conditions in recent memory. While today's selling isn't ideal, support at $47.50 is near enough that shares should be able to catch a bid nearby. Investors looking for a cheaper entry would do well to snatch up shares.
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