$GMCR . Watch the support. $42.78

$GMCR support at $42.78

A few warning signs are coming up for Green Mountain Coffee Roaster ($GMCR).

On the Daily Ichimoku Chart, we can see the following:

1. From the Chikou Span, it suggest that the price pattern is developing a possible head and shoulder. It is incomplete and if it dip below $42.78 , the pattern wil be completed.

2. Looking at the Tenkan sen and Kijun sen, we can see that it is now very close and a bearish cross may form if price dips. Currently, price is still trading above the Tenkan sen and Kijun sen.

3. The leading kumo seems to suggest that the trend is ready to change with a possible ‘kumo twist’. Again, there’s no confirmation.

It seems that the support level of $42.78 from the Chikou Span will be a level to watch.

$NFLX . Will it go above $65 again?

$NFLX has bounce off the lows of $52 twice and seems ready for a rebound.

However, on the Ichimoku chart, it is stil in Bearish territories.

Couple of resistance ahead.

1. Huge gap resistance formed back in July

2. Chikou Span resistance at around $65

3. Immediate resistance from the Tenkan sen at $57 to 58 range.

Apart from that, the leading kumo is pretty much flat. There is no suggestion that the trend has changed and possibly a continued downwards movement.