Coty Inc (N:COTY) makes some of the most popular fragrances and nail treatments in the world. That mosaic of differing brands serves the company well. And the mosaic of technical factors in its stock chart should also serve the stock price well. Take a look.
The chart below shows the price action for the Coty ($COTY) since June 2015. There was certainly a lot of sideways chop during this period that was then followed by a drop lower into the beginning of January. Since then the stock has been trending higher though.
The charts shows 4 signals that this uptrend could persist. The first is the harmonic Shark pattern. It carries a potential Reversal Zone above near 34. Then there is the positive momentum indicators. The RSI is bullish and the MACD rising. Next the Bollinger Bands® are open and pointing higher. Finally the SMA’s are starting to turn up.
The stock is currently consolidating the latest jump higher. Look for a move over 29.25 as confirmation that these aligned technicals were showing the way higher.
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