The Measured Move (MM)

In reviewing my charts last week, I came across 2 weekly charts of GMCR (Green Mountain Coffee Roasters) that I posted on July 2 & 9 of 2011. Here is that chart:

I noted on the chart that it shows a MM to 97. A Measured Move to 97 is what the parallel vertical line shows.

What the review showed me was that the stock price indeed got VERY close to that move – putting in a high at 96.91

 

 

This chart from July 9, 2011 shows what my view was a week later as it was approaching the MM target.

I was optimistic that it could make a serious run at 100 but certainly it needed to complete the MM move first, which it did.

Now the stock has pulled back to the 90 leve.

Expected?

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