A news item found on Fidelity.com shows great possibalities for Coffee Holding Company!
If you are into charting like I am, your gonna love this!
Coffee Holding Co Inc forms bullish "Continuation Wedge" chart pattern
Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Coffee Holding Co Inc (JVA on NASDAQ). This bullish signal indicates that the price may rise from the close of 8.76 to the range of 14.75 - 16.25. The pattern formed over 61 days which is roughly the period of time in which the target price range may be achieved.
Coffee Holding Co Inc has a current support price of 7.99 and a resistance level of 8.88.
A Continuation Wedge (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. Prices edge steadily lower in a converging pattern i.e. there are lower highs and lower lows. The technical event occurs when prices break above the upper trendline, thereby confirming the pattern.
This bullish pattern can be seen on the chart and was detected by Recognia's proprietary pattern recognition technology.
Recognia Alert Wire content is generated at market close by Recognia Inc. (recognia.com). Recognia has developed proprietary technology for chart pattern recognition and automated interpretation based on the standards of technical analysis. Recognia investment research products scan all financial instruments across covered exchanges and generate news alerts for those that have formed one of more than 25 patterns.
Disclosure: I am short JVA.
Additional disclosure: This is article is directly from the fidelity.com web site.All credit is due fidelity and Recognia.