GMCR broke through the 2011 high earlier this year, retested it in August and has since been in a reasonably linear trend.
Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend.
This is not an opportunity for today, however, as earnings are due to be released after close of business tonight. The volatility that this might cause could spike us into and out of a trade, so I will wait and see what daily bar forms and make a more informed decision tomorrow.
Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend.
This is not an opportunity for today, however, as earnings are due to be released after close of business tonight. The volatility that this might cause could spike us into and out of a trade, so I will wait and see what daily bar forms and make a more informed decision tomorrow.