SAM Boston beer had been absolutely slaughtered by share holders.
looks like we have found a bottom here on the weekly. Looking for this to close as an inverted Hammer on this current weekly candle then confirm uptrend next week. Potentially a very great entry for those willing. Weekly RSI is completely shot here. Stoch is rounding out at the bottom which should soon curl upward. Momentum still aiming downward.
SAM will recover, more people were drinking at home last year due to the pandemic. Beverage industry has a shortage of products due to things flying off the shelves plus potential labor shortage. Once people get back to freely going out in public and enjoying bars again we will see spikes in bev sales. I'm bullish on beer. Still a risk here (Monthly Chart) but overall this appears to be the bottom.
I'm dying a slow death with this stock. I'm bag holding for months. Can you please post an update on it? Thanks.
StofAxeCapital
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@yarilibra13, hello there. Right now this isn't ready to "bottom" A lot of traders are hedging the market with inverse ETFs like UVXY & SQQQ. I would look at the SPY or SP 500 and see what is going on their. Market could possibly be an absolute blood bath. I would look at peoples ideas there. Right now it doesn't make sense for me to post on SAM. I hope that helps.
StofAxeCapital
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@yarilibra13, Check the 4 hour chart. Potential reversal. Hammer Candle in 8 minutes.
StofAxeCapital
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@yarilibra13 hoping this gets a reversal on the weekly chart. Haven’t followed this on closely yet. But I am slowly checking for it to reverse on the weekly before I look to enter. I’ll update when I enter the trade here.