Coca Cola is Not the Only Monster Beverage Stock
- Posted by Greg Harmon
- on April 16th, 2013
Coca Cola, $KO had a big earnings beat and then a monster run higher on Tuesday. It has been and was a big winner in all of our accounts. But if you missed it there is another monster of a run that is about to kick off. Monster Beverage, $MNST, that company you were worried about when kids were collapsing from too much caffeine, is about to break out higher. Take a Look.
Monster Beverage, $MNST
The chart above shows Monster breaking the bottoming consolidation process April 8th and moving higher. The break came with a rising and bullish Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) that is rising. It moved to the previous high from December 12th 2012 and is consolidating. The initial move was nice but it sets up now for a move higher to 67.50 on a break over the 57.50 consolidation area, on a Measured Move higher. Those RSI and MACD support this continuing and that would close the gap (blue box) from August 2012. Use a move over 57.50 as a long entry into the stock or to buy the May 57.5 Calls.
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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 since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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