Coffee Holding (JVA - Get Report) is engaged in manufacturing, roasting, packaging, marketing and distributing roasted and blended coffees in the U.S., Canada, and the Far East. This stock closed up 7.7% to $5.45 in Tuesdays trading session.
Tuesday's Range: $5.01-$5.50
52-Week Range: $4.50-$7.78
Tuesday's Volume: 169,000
Three-Month Average Volume: 61,955
From a technical perspective, JVA surged sharply higher here right off its 50-day moving average of $5.007 with above-average volume. This move briefly pushed shares of JVA into breakout territory, after the stock flirted with some near-term overhead resistance at $5.46. Shares of JVA tagged an intraday high of $5.50 before closing just below that level at $5.45. Market players should now look for a continuation move higher in the short-term if JVA can manage to take out Tuesday's high of $5.50 with strong volume.
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Traders should now look for long-biased trades in JVA as long as it's trending above Tuesday's low of $5.01 and then once it sustains a move or close above $5.50 with volume that hits near or above 61,955 shares. If we get that move soon, then JVA will set up to re-test or possibly take out its next major overhead resistance levels at $5.85 to its 200-day moving average of $5.93. Any high-volume move above those levels will then give JVA a chance to tag $6.20 to $6.60.