GMCR (Keurig Green Mountain Inc) will offer an objective short entry on a break below this primary uptrend. Note the bearish rising wedge pattern with strong bearish divergences that has formed between the previous reaction high back in February to the most recent marginal new all-time high in the stock about a month ago. Since that recent new high, GMCR has rolled over, failing to build on the gains or even sustain the breakout to new highs (bearish) and will likely break below that primary uptrend line soon.
The official entry will be on any move below 112 with a more conservative entry or add-on below the 110.73 minor support level. The suggested stop for those targeting T1 would be 119.15 with a suggested stop over 121.25 if targeting T2 (the final target which would be good for a 25% profit if hit). click here to view the live, annotated chart of GMCR
2017-03-08T21:20:51-05:00Aug 8, 2014 12:21pm|Categories: Uncategorized|Tags: GMCR|Comments Off on GMCR Short Trade Setup