Head to Dunkin’ Donuts for National Coffee Day
- Posted by Greg Harmon
- on September 29th, 2016
Thursday is National Coffee Day, and following Wednesday’s National Drink Beer Day, it seemed very appropriate early this morning. But with the afternoon rolling around it is time for many of us to go find that pick me up for the rest of the day. Here in North East Ohio it is raining and 65 degrees, so our mood has turned to fall and when you think of fall and coffee your mind naturally goes to Pumpkin Spice _______ (fill in the blank).
Until recently you would then walk or drive to Starbucks. But today instead why don’t you head to Dunkin’ Donuts. They also have a full line of Pumpkin Spice coffees now. And while you are there you may want to pick up some shares of their stock as well. The chart below explains why.
The chart shows how the price of Dunkin’ Brands stock ($DNKN) went from a high around $56 July last year to a low at $37 in January. After losing 1/3 of its value it started back higher to a top at $50 in April. Another pullback found support at $42, a higher low, in June before another leg higher. This also stalled at $50 but pulled back again to a higher low at its 50 day SMA. The reversal from there moved up through $50 for the first time in a year. It has consolidated over that break out, since.
Momentum has remained bullish since early August and reinforced recently with a fresh cross up in the MACD. With the Bollinger Bands® opening to the upside and the SMA’s turning up it looks like a good time to pick up some shares along with that Pumpkin Spice Latte.
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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 since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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