DavideG

GMCR - Year+ Channel Broken, More Downside

Short
NASDAQ:GMCR   None
5
Within the last week, GMCR has broken two important TL supports (the primary of which is the channel it has been trading within since Nov 2013). Additionally, the 9 EMA has crossed the 20 MA, faces strong RSI resistance on the backtest of its TL, a shooting star is forming on the daily and a possible head and shoulders in formation. Would take this trade, targeting $125.75, if my portfolio allocation allowed it. Time of writing, last price - $138.23.

1.9.15 - 11:36am EST