GMCR is been in an uptrend, broke it and is now bouncing on a weak EV pattern.
We are now close to the $141 resistance level and at the top of the envelope. This is a good shorting spot.
The only problem is that the market is in a recently triggered buy mode, which will continue pushing stocks higher.
However, Coffee is also bouncing hard, which will weight on the company.
I took a short position on Friday, which goes well to balance other longs.
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