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Timonrosso
Oct 26, 2022 4:14 PM

Boston Beer running up W Formation breakout Long

Boston Beer Company, Inc. (The)NYSE

Description

W Formation has formed after an extended downtrend.
The price has broken above and has a likelihood of running up.
Price above all MAs
Target $571.54
CONCERNS:
After a steep downtrend, the price is still vulnerable for upside. Either it rallies hard and furious. Or the market comes back down into the formation.
Either way, we have out signal to go long.
Comments
noam_chom
the W was a good idea back then, but too small of timeframe. see my updated SAM analysis from today (1 day prior to earnings)

noam_chom
good setup for continuation back to $415-420 resistance area
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