littleriver

Making a case for FARM

BATS:FARM   FARMER BROS CO
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Found this today while researching. I do not hold a position in it . I would have liked to have found sooner for an entry on that reversal candle but no dry powder anyway for this play. What we have is what looks to be a trend reversal. I have highlighted the reversal engulfing bull candle with volume that formed on the end of the inverted head and shoulders reversal formation. That is followed by another green candle today breaking the downtrend line and confirming the reversal. What I see driving this Bull is divergence in the underlying commodity, Coffee . Drops in the price of coffee can and do lead to an rise in FARM( a coffee retailer). Coffee has been falling but Farm has been flat. Looking for a bullish move here.

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Looking for a possible throwback to retest the neckline as we approach the top of the flag. We could blow through that red line and as good as that would be a tight stop loss is not a bad idea either.
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littleriver littleriver
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