Tuesday, May 24, 2011

GMCR : Green Moutain Coffee Roast

GMCR : Green Moutain Coffee Roast.

Has traced out 5 waves in the weekly, daily and hourly chart.
Its the final of the final wave in this drmatic rise.
A reversal has yet to be seen.
Stochastics are running into the O/B extremes.
Signalling a reversal is imminent but yet to be seen.
Yesterday open was a gap up, worked itself down in a couple of minutes
but formed a bearish dragonfly doji at end of day where the opening and closing price are the same on the hourly chart
Meaning to say, the bulls gave ways to the bear at the open but manage to trade themeselves up last minutes.

Expect to see a reversal candlestick pattern next few days.
This run is over subject to reversal.









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