Stay Crafty When You Are Thirsty
- Posted by Greg Harmon
- on June 18th, 2013
Seems that the whole country is giving up on the big watery tasting beers in favor of craft beers. How do I know? Look at the charts. The craft beer stocks like Boston Beer, $SAM, and Craft Brewers Alliance, $BREW, have been moving higher. The chart for $BREW below shows the price nearing resistance at 8.00 after breaking higher from a Diamond
continuation pattern. The target out of the Diamond takes it to about 8.40 and it has support from a bullish and rising Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) that is turning up. The Chart of $SAM shows similar strength, at resistance ready for a break out with RSI bullish and rising and the MACD
moving higher. It also shows a Crab with a Potential Reversal Zone (PRZ) at 189.74.But if you look at Ambev, $ABV, for example, the chart looks horrible and apt to get worse. A downtrend with falling RSI and a MACD that may be leveling. Yes the world is finally wising up. Taste over quantity.
Join the Dragonfly Capital Views Premium Membership
Want to learn more about Dragonfly Capital Views?Dragonfly Capital Views Performance Through May 2013 Expiry and sign up here.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- SPY Trends and Influencers December 20, 2014
- Macro Week in Review/Preview December 19, 2014
- Dragonfly Capital Views Performance Through December 2014 Expiry
- Charting An S&P 500 March Higher
- Premium Stuff
- Benzinga Morning Prep from December 18, 2014
- Getting a Rise in Dick’s for the Holidays
- Premium Earnings 12-18-14
- Checking Back on Crude Oil
- Time to Hook Up with PC Connection