Green Mountain Coffee Roasters
Green Mountain Coffee Roasters (GMCR) is engaged in the specialty coffee and coffee maker businesses. The stock is trading up 6% at $43.45 in recent trading.
Today's Volume: 14,200,000Average Volume: 6,355,590 Volume % Change: 267% From a technical standpoint, this stock is starting to bounce off of oversold levels after gapping down big on a bearish earnings report earlier in the week. The current relative strength index reading is below 30 at 27.46, which indicates an oversold stock. Oversold can always get more oversold, but for now GMCR is spiking on big volume. The next buy trigger will hit once this stock trades back above its gap down day high of $48.04 with high volume. A high-volume move above that level should set off more short-covering as the stock looks to fill some of that gap down area. I also included GMCR on a recent list of earnings short-squeeze plays.
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