Short
GMCR / SHORT to the low 120s
GMCR
As volume drys up and momentum from Coca Colas announcement of taking a stake in GMCR is a distant memory ,it seems the catalysts to drive the stock higher are fading.
The stock also seems to have gotten away from the yellow trend line, which confirms in the least a pullback to the low 100s.
Although I feel stock is overbought , I expect to close my short position at the 120 level and see if institutions support the shares or continue to sell.
Only way I see shares going higher is a black swan event...similar to Cokes investment announcement
As volume drys up and momentum from Coca Colas announcement of taking a stake in GMCR is a distant memory ,it seems the catalysts to drive the stock higher are fading.
The stock also seems to have gotten away from the yellow trend line, which confirms in the least a pullback to the low 100s.
Although I feel stock is overbought , I expect to close my short position at the 120 level and see if institutions support the shares or continue to sell.
Only way I see shares going higher is a black swan event...similar to Cokes investment announcement
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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.