Current Trend (W): Down
Abv/Below Value Zone: Below
Next Scheduled Report Date: 17 November 2015
52 Week High: $158.87
52 Week Low: $52.40
Current Relevant Resistance: $77.40
Current Relevant Support: $52.40
Recent Close: $52.67
Comment: Even their own caffeinated product couldn’t keep this company’s stock price up today. I’ve actually written about Green Mountain a couple of times, most recently on 13 September 2013. At that time I was acknowledging that a recent long call had been stopped out, but said that long signals should be taken unless price broke major support around $56. The stock went on to more than double by the end of 2014.
Since March of this year, the stock hasn’t fared so well. Simple traders and/or TrInvestors would have had a clear don’t enter/get out of existing longs signal at the $113.20 level. That $113 level is a bit more than 50% above today’s close at $52.67.
No voodoo… no magic… just a simple process.
What’s up for GMCR moving forward? Stocks like to bounce hard off extended levels, however there are no clear support levels anywhere close. Unless the stock price can get up above the TAOST Value Zone ($110ish) this is dead money to me.
Have fun with it…