GMCR (Green Mountain Coffee) at 81.36 Confirming Multi-month Top on Break below Key Support (SELL)

GMCR extended the decline off the 115.96 YTD high via lower highs to probe below the 82.40 low today, confirming another lower top at 96.77. Meanwhile, probing below the key 83.50/82.40 support zone confirmed the double top formation (from 111.42/115.96 highs), initiating the next downleg towards 73.27 (Support 1) then 63.71 (Support 2), possibly 47.81 (Support 3) near the double-top measured target.

It would take recycled strength above 96.77 (Resistance 1) to negate and re-open 108.86 (Resistance 2) which guards 115.96 (Resistance 3).

Trading Indication:
Short-term: Sell at 87.00 or higher;
Target at 73.27 and lower;
Stop Loss at 89.00 (2.30%)
Long-term: Possibly buy lower