$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.


$SPX . Chikou Span shows possible head and shoulder?

Highlighting possible formation.

If it does not break above 1248, and turn down, there is a chance that we see a mini head and shoulder forming.

Kumo support remains at around 1212.


Research In Motion (RIMM) : 5min chart, possible head and shoulder

Sometimes, the intraday trades movement can be so fast that one may missed out a pattern developing.

In this case, RIMM may have a head and shoulder forming.

I was only able to spot it because of the Chikou Span in Ichimoku.

As we can see from the Chikou Span, there is a chance that the head and shoulder will form.

And if that forms, the way for RIMM is down.


At time of posting, head and shoulder is not confirmed yet.

A reminder to myself, No Setup. No Trade.