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Charts courtesy of stockcharts.com

Thursday, February 3, 2011

GMCR

GMCR has one ugly chart pattern here, and difficult to pick out pivot points, and despite today's big gap, barely hit a new high. The volatility this has seen in recent months probably had a lot to due with the selling today, as nervous traders decided to take whatever profits they could, resulting in the dreaded black candle. This could move higher, but it is possible that this is still going through some base building.

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