Looking through the ticker cloud today, and noticed some interest showing up on GMCR.
After clicking on the chart, I see why.
Recently, it gapped up. It pulled back to test support of the gap, and looks to have reversed here.
It has a very strong SCTR, so it is behaving better than 95% of the stocks. When that happens, it usually is a place institutions like to put money. Outperforming stocks that they can buy on a pullback.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
Learn More
