Wanna Trade Coffee Stocks?
- Posted by Greg Harmon
- on January 25th, 2012
Starbucks. $SBUX, reports earnings Thursday night after the close and it has many people thinking about coffee. But Starbucks is moving quickly beyond just coffee into the sale of alcohol and food. If you want a caffeine jolt take a look at the technicals of these coffee stocks.
Caribou Coffee, $CBOU
Caribou Coffee, $CBOU is moving higher out of a bull flag with a strong and bullish Relative Strength Index (RSI). The Moving Average Convergence Divergence (MACD) indicator is positive and improving as well. The Measured Move out of this flag takes it to 18.50, another 9%. But before you get too excited there is resistance at the August high at 17.40 along the way.
Green Mountain Coffee, $GMCR
Green Mountain Coffee, $GMCR, broke above the down trending resistance at 47.90 last week and then retested the breakout level yesterday. The RSI is on the verge of turning bullish and the MACD is positive, both supporting more upside. A move over 53.20 starts the next leg higher with the December high at 60 and a gap fill above that. This is a big momentum name so it can move quickly.
Peet’s Coffee & Tea, $PEET
Peet’s Coffee & Tea, $PEET, is moving higher off of the bottom rail of a symmetrical triangle with the top rail at 63, 5% higher. If it can get over that there is resistance at the August – October double top at 63.90 and then free air higher. Both the RSI and the MACD are moving higher supporting more upside.
Choose one of these names if you want to play coffee. If you want to play Starbucks, $SBUX, well we will be working on that at the premium site Thursday.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Top Trade Ideas for the Week of April 21, 2014: The Rest Premium
- Top Trade Ideas for the Week of April 21, 2014: The Best
- Cleveland’s Best Linkfest!
- SPY Trends and Influencers April 18, 2014
- Macro Week in Review/Preview April 18, 2014
- Pontius Pilate Was the First Behavioralist
- Dragonfly Capital Views Performance Through April 2014 Expiry
- Currency Discussion on FX Street
- Premium Earnings 4-17-14
- Enter the Pound