this is an aggressive “catch a falling knife” trade so DYODD and adjust your position size and stops accordingly if you decide to take it. GMCR has been in near free-fall and is now quite oversold and at a decent support level shown on the 2-day period chart below. i’ve also included a 15 minute chart which shows what might be at least near-term capitulation (i.e.- selling climax) and some positive divergence in place as GMCR makes an impulsive bounce off the bottom of this downtrend channel. i took a starter position just after the open today with plans to add on a break above the top of the channel (stops set below the recent lows). initial target marked on 15 minute chart but i might add targets as/if the trade plays out.
