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Green Mountain Coffee, Inc (GMCR) : Bouncing off 29

Looks like Green Mountain Coffee (GMCR) is bouncing off $29 level

Kumo support is expected to be around $28

How would you play it? Given that the overall market is more bearish now.

If there is no catalyst over the next few days, I am tempted to look for a SHORT VERTICAL CALL on GMCR.

Note:

On the Ichimoku chart, we can see that the Tenkan sen is starting to turn and is pointing down.

The Kijun sen (trendline) is flattening; suggesting that the bullish move is coming to an end.

At this moment, there is a chance of a bounce. We may see resistance at the gap level.

By iam802

Trend trading with Ichimoku