by Piker Trader

Think there are sellers at 80.70? GMCR over the last few days has just not been able to crack above 80.70.  

GMCR has hit 80.68, 80.64 but not 80.70, each time it gets near this level it sends the stock lower leaving long candle wicks and sends GMCR back to 80.00.   This resistance is interesting since there is no former resistance at this level or a level of importance, so it is really coming out of no where and coming from new sellers.

But the more this level is tested the weaker it becomes so any break out above this level and GMCR goes higher but it is also showing weakness in the market.   If GMCR is to start going lower because of this resistance, it will need to get below 78.27.   

Read the rest of the article at GreenMountainJava

by Paul Costa

FSM looks like it might be setting up for a short squeeze here.   The stock has a 50% short float and low float so any movement up will bring quick pain to the bears.  Also stock seems to be basing at 2.60 and broke a short-term downtrend.

by Paul Costa

FBP: Broke out of ascending triangle and the breakout level at 6.14 level has held as support.  Watch for a break of 6.25, potential target to 6.40.

JMBA: Trendline support holding, short-term resistance at 2.90 with a longer term triangle at 2.90.  Breakout above this level is bullish.

by Paul Costa

YELP has ripped up about 20% since its gap up on May 1st.  

Since then it has not moved much since it made its high on 5/3.  That being said it has been chopping around in a 4%-7% range which is a decent size range.  What YELP has done is consolidated since its move and formed a triangle pattern, which is known as a continuation pattern.  Since we have the triangle forming after a breakout/uptrend, we should focus on YELP breaking this pattern to the upside and continuing its upside movement.

This would mean a break of about 31.50 to be on the safe side.  We can see from the chart that YELP is sitting on the bottom of the triangle and support, so it is a logical bouncing point.  The pattern would be voided if YELP was to drop below 29.74, at the point you are looking to see if YELP can stay above its low at 28.78, but that here nor there.  The way to play this right now is to watch for a breakout of the upside as this is what our chart is telling us could happen.

by Paul Costa

NYAD has not participated in this latest rally, failing to make new highs with the market.  

This is a little concern for the bulls since they would want to see advancers moving this market up.  The last time this was noticed was on April 2nd, the market dropped a HUGE 1.5%.  Why this isn’t the “OMG ITS A TOP SIGN”.  It should be something to watch, there is a possibility that NYAD can join in the rally which would be a positive sign for the market.  But if it continues to diverge from the market and even get bearish watch out.

by Paul Costa

PRKR ripped yesterday and broke out above key resistance closing at the High of the Day and above its most recent swing high.  PRKR formed a ascending triangle over the last few months and was able to breakout out above 4.20, once it it this is started ripping yesterday.   With a high short-float this stock can keep going especially if we look at what long-term resistance it broke.

Taking a look at a longer-time frame we can see PRKR may be breaking out of long-term resistance and goes back to 2004.  This would be a big breakout and potentially very bullish for this stock.  Any continuation of yesterdays breakout would confirm this.

by Paul Costa

SPY:  SPY closed down today for the first time in 4 days as it failed to stay above its resistance at 163.45, although it did manage to get a new swing high.  Support which we had been mentioning at 162.47-162.42 held today, allowing SPY to close above 162.70 a former resistance level which is now support.  There won’t be any pullback till support is broken especially at 161.20.  For SPY to continue its upward trend, it will need to close above 163.37.

by Piker Trader

Green Mountain Coffee Roasters Reports Second Quarter Fiscal 2013 GAAP EPS of $0.87 and Non-GAAP EPS of $0.93 Representing Growth of 50% and 45% Respectively Over the Prior Year Period

• Revenue Increases 14% Over the Prior Year Period
• Free Cash Flow of $202 Million in the Quarter, $456 Million for the First Half of Fiscal Year 2013
• Management Updates Outlook for Fiscal Year 2013:
  • Raises Fiscal Year 2013 Non-GAAP EPS Estimates to$3.05 to $3.15 -- A

Read the rest of the article at GreenMountainJava

by Piker Trader

JO is the Coffee ETF it tracks  The Dow Jones-UBS Coffee Subindex Total Return which is a single-commodity sub-index currently consisting of one futures contract on the commodity of coffee.  Basically tracks the price of coffee.  JO looks to be testing resistance again at 30.80-31.05, it has failed 3 times at this level over the last two months and the more resistance level is tested the weaker it becomes.  A break of this could be potentially bullish for the commodity.  But the real resistance for this commodity is at 31.87.  This is longer-term resistance and the downtrend.  Things won't get bullish for coffee unless it can get above this level. But first lets watch the 30.80 level.  

Read the rest of the article at GreenMountainJava