JVA our Free Stock Pick for Friday June 17th 2011

JVA our Free Stock Pick for Friday June 17th 2011 ; 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 support in the 16.00-18.00 area.

Preferred entry (buy stop) price is at 14.55, with a stop at 13.30.

Sinisa Persich is a technical analyst and author of TraderHR, featuring his daily, small-cap, swing trade set-ups for yielding profits in both up and down markets. Sign up for a Free 15-Day Trial... For the latest updates PRESS CTR + D or visit Stock Market news Today

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