Shares of Coach (COH) are down 12% so far this year, but have surged 13% in the past month. Katie Stockton, chief technical strategist at BTIG, said the stock will continue to make up lost ground as its momentum and relative strength continue to improve. 'Coach is one of those types of names where it’s really a turnaround play and what we’ve seen Coach do is build a basing phase on its chart,' said Stockton. 'It does appear to be breaking out on the back of the Fed announcement and to see that follow through is very positive.' Stockton added that Coach is not alone in bouncing back because 'retail stocks are benefiting from mean reversion'. Facebook (FB) has enjoyed its role as one of the four so-called FANG stocks – Facebook, Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) – this year with shares of the social media giant soaring 35% year-to-date. Stockton said the uptrend is supported by long-term trend-following indicators. 'It tends to absorb overbought conditions very well so this recent consolidation phase that we’ve seen has allowed it to absorb overbought conditions without a meaningful correction and that’s really a testament to the long-term uptrend,' said Stockton.
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