PPT - GMCR and IGTE Pocket Pivots on Wednesday 090810 - GMCR, IGTE
A couple of pocket pivots showed up on our screens last night: Green Mountain Coffee Roasters (GMCR) and Igate Group (IGTE), shown below on daily charts. GMCR's pocket pivot is also a new-high base-breakout from a cup-with-handle formation, so we would view GMCR's pocket pivot action yesterday as adding weight to the breakout from the cup-with-handle formation. IGTE flashed a pocket pivot within this current little sideways consolidation it has been forming since late July. IGTE is a thin stock priced in the "teenaged" zone at 16.85, hence is not something we ourselves would normally trade. However, VoSI members who like small-cap leaders and can trade in smaller size can consider such stocks for their own portfolio. We would expect both of these stocks to at least hold their intra-day lows of yesterday on these current pocket pivot moves.
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