We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Coffee Holding Co. Inc. (JVA).
I hope you are having a Happy New Year !
This week let's take a look at the JVA stock chart.
JVA is currently on a daily, weekly and monthly green MarketClub Trade Triangle and when all time frames are pointing in the same direction that is important information to have.
JVA is currently working on a base, making higher highs and higher lows and everything looks bullish as far as the chart pattern is concerned.
The MACD is turning bullish, so the technical picture is shaping up.
So with the combination of the bullish MarketClub Trade Triangles, bullish chart pattern and bullish technical picture, JVA is definitely a Chart to Watch.
Thanks,
Jim Robinson
Profit Trading.com
This analysis is refuted in the Recent Posts Category - "Weekly Futures Recap with Mike Seery".
Seery comments, "Remember the trend is your friend when you trade commodities and the trend in coffee in the last months has been severely to the downside with investors shaking their heads wondering how low prices can actually go and when will coffee prices bottom. In my opinion at this point I believe coffee prices are headed lower with a pessimistic commodity market this week due to the fact that QE3 might be abolished by the end of the year pushing the U.S dollar higher which then pushes commodity prices lower. TREND: LOWER –CHART STRUCTURE: EXCELLENT"