Last year , April 13 we recommended this stock at about $12, frankly for no other reason than that it had beautiful EW patterns, doing exactly what it was supposed to do, that is break down to the 4th of previous degree and then rebound.  Then I suggested  $17 to $18 (always a minimum) and have not done anything with it. Again, in EW terms a 50-62% retracement is “normal”. We are approaching the upper end of that range and consequently would sell now or at the very least put a stop-loss just underneath its present value.

By the way, I still do not understand why so many people pay so much for so little, but that is beside the point.

This stock is completely out of phase with the rest of the market as it’s decline started at least a full year before the market in general. It is also a little late in the game but IMO there is room enough to the upside left to make it worthwhile.  Here are the charts.

Or with a little more detail;

Talk about “regression to the mean” and then some. This one went right back to the inflection point (wave 4) and often that is enough for the time being. A move back to about $17-$18 is a very reasonable expectation. I must confess that I do not understand why people pay so much for coffee, but that does not stop me believing that they will continue to do so.