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.
