An under-$10 stock in the food processing complex that looks ready to trigger a near-term breakout is Coffee Holding (JVA), an integrated wholesale coffee roaster and dealer in the U.S. This stock has traded virtually flat so far in 2012, with shares up just 0.5%.
If you take a look at the chart for Coffee Holding, you'll notice that this stock has been crushed by the sellers in the last three months, with shares dropping from a high of $14.88 to a recent low of $6.50 a share. During that huge move lower, shares of Coffee Holding have consistently made lower highs and lower lows, which is bearish technical price action. That said, the stock has started to tend up in the last few week, since it has moved off that $6.50 low to its recent high of $7.93 a share. That move has pushed JVA within range of triggering a near-term breakout trade.
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