GMCR daily Jan 6th
The GMCR (Keurig Green Mountain Inc) short trade has hit the first target, T1 at 127.95, for an 8.5% gain in just under 5 weeks. T3, the final target at 90.55 is my current preferred swing target on this trade as of now but as always, consider booking full or partial profits and/or lowering stops to protect profits if holding out for T2 or T3.
Due to the considerable downside left, assuming this trade reaches the final target, GMCR will remain both an Active Trade as well as a Short Setup as the stock still offers an objective entry. However, price targets on short trades are set just above support level where a reaction (bounce or consolidation) are likely. Therefore, it would be prudent to wait for GMCR to break below the 124 level before re-shorting (if covering here), initiating (a new short position) or adding to an existing short position.