Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR)
Q: Mr. Brian,
A: Our near term indicators for GMCR are overbought, however the intermediate term indicators are still rising. So there may be a few pullbacks along the way but overall our trend is still Up. You can see it recently retraced to the 50-day moving average but then bounced and moved higher again. That retrace could happen again – the higher a stock is over a moving average, the odds rise that it will pullback so keep that in mind. GMCR reports next week so that may create some additional volatility in the near term. In terms of a target, technically there is no resistance since the stock is at new highs. The most optimistic sell-side price target is $70 so that may be a first stop.