Coffee Holding Co., Inc. (JVA) last week reported better net income than for the same period last year, and the stock jumped more than 60% in just two days, reaching a new all time high at 15.50. Since then the stock has pulled back to the 12 area and consolidated in a bullish flag formation, which was broken today on increasing volume. This suggests we could see a breakout above last week's highs and a move toward next target in the 16.00-18.00 area. Preferred entry (buy stop) price is at 14.55, with a stop at 13.30.
Originally published on TraderHR.com.
