Keurig Green Mountain, Inc. produces and sells specialty coffee,
coffee makers, teas, and other beverages in the United States and
Canada. It sources, produces, and sells coffee, hot cocoa, teas, and
other beverages under various brands in K-Cup, Vue, Rivo, K-Carafe, and
Bolt portion packs brands; and coffee in traditional packaging,
including bags and fractional packs, as well as offers whole bean and
ground coffee in bags, fractional packages, and cans. The company also
offers other specialty beverages in portion packs, which include hot
apple cider, hot and iced teas, iced coffees, iced fruit brews, hot
cocoa, and other beverages for use with its Keurig hot brewing systems,
as well as sells coffee-related equipment and accessories, gift
assortments and hand-crafted items from coffee-source countries.
Take a look at the 1-year chart of Keurig (NASDAQ: GMCR) with the added notations:
GMCR has been in a solid downtrend for the past year. However, the
stock has been trading sideways on top of a $50 support (green) during
the most recent two months. Now that the stock appears to be testing
that support level again, traders should be able to expect some sort of
bounce. However, if the $50 support were to break, lower prices should
follow.
The Tale of the Tape: GMCR has a key level of
support at $50. A trader could enter a long position at $50 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.
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