It appears as though the recent strength in Coach was nothing more than a bull trap before today’s disastrous sell-off after poor earnings. We can always look at these sell-offs in a vacuum, though, which forces us to look at the bigger picture.
As you can see on the updated weekly chart below, the move above $60 was short-lived out of the recent multi-month consolidation. A head and shoulders top going back to 2011 could also be made. Downside follow-through after this sell-off would be devastating to bulls here.
When you combine those technicals with brand maturity and increased competition, Coach is still likely a short setup into any rally.