11.21 Update – Earnings happened last night after the close and shot up like a rocket. This never closed on a weekly basis below where I deemed support to be. I wouldn’t chase this today and if you had entered today would be a good day to book some of today’s profits and set a stop at your entry price to let this be a risk free trade.
10.24 Update – Keep your eye on GMCR over the coming days as it looks to be nearing some significant support on weekly chart. I agree the daily is a mess but looking at the weekly chart puts the solid uptrend in perspective.
RSI trends between 80-40 during an uptrend and we’re nearing the lower end of that range. Earnings aren’t until next month so that isn’t a concern and by then you’ll know if this trade has worked out and whether it’s worth the risk of holding through earnings.
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