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Fun Fact: The lower monthly Bollinger Band on GMCR is currently below $0, and the middle band (20-period monthly moving average) has been breached with ease.
Generally speaking, a break of the middle band places the lower band within the sights of bears. While I do not think it is much of a possibility that Green Mountain is going out of business anytime soon, the comparisons to Netflix’s monthly chart that I have been drawing for some time now remain relevant. Read my posts here here and here for more on that comparison.
In sum, momentum cuts both ways. Just as Green Mountain rode above the upper monthly Bollinger Band for quarters on end, do not rule out a nasty ying to this yang. In other words, I do not believe the inevitable relief bounces in Green Mountain are even worth playing yet.
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I’m back in GMCR full force when it gets to $9. Maybe tomorrow?
Go for it.
The good old lesson bounces are made to get out could not be more true than for $GMCR.
Well shiver mi timers… Sure glad I’m an asshole, then. Turns out it works out best for me in the end.
It is an interesting comparison. It is one that I’ve been watching for a while as well. I’m also flipping through some high beta momo names in search of a chart that is looking like them. So far I haven’t found any… not even CRM/HANS/AMZN.
I like the idea of trading GMCR based on what we learn about NFLX. The trouble is that I don’t think we’ve seen the end of NFLX yet. I think we’ll see a few month long base around $50 before it can be revived… Who knows where GMCR will bottom.
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It’s hard to find educated people for this topic, however, you seem like you know what you’re talking about! Thanks