As if it didn’t need any more perking up, Keurig Green Mountain is up 6.6% on Friday after announcing a new deal with Starbucks.
The company known as Green Mountain Coffee Roasters until this week will offer Starbucks more selections in the type of “K-cups” it can produce. In exchange for increased access, Starbucks has relinquished its right to exclusivity in Keurig’s premium coffee packs.
Keurig Green Mountain has been on a caffeine rush so far in 2014 and is up 50% so far this year. John Kosar, Director of Research at Asbury Research, thinks the buzz will continue and Keurig Green Mountain’s stock will head higher based on the stock’s technicals.
“On a very near-term basis, we’re monthly oversold,” says Kosar on CNBC’s Street Signs’ Talking Numbers segment. “We’re sitting up above support at the 50-day moving average, which is at $96. And, we’re negotiating that $116 area, which was the high from 2011.”