Short
GMCR - Year+ Channel Broken, More Downside
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
1.9.15 - 11:36am EST
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.