$SAM Boston Beer Company: Over-Extended & Priced For Perfection
$SAM Boston Beer Company: Over-Extended & Priced For Perfection
Looking back long term whenever this stock gets 30-40% above it's 200d ema line its usually time for some kind of correction.
At its highest peaks it was over 40% above. Right now its over 45% above it with earnings approaching next week.
People aren't socializing as much or congregating in big groups. Bars which had opened are now being forced to close.
Even if they hit their EPS target for the quarter. The story for the near term will not be positive.
This stock is over-bloated and ripe for shorting.
Near Term Target: $575.00
If $575 support is broken we could easily see the $525-$550 range.
Note: Not investment advice.
Looking back long term whenever this stock gets 30-40% above it's 200d ema line its usually time for some kind of correction.
At its highest peaks it was over 40% above. Right now its over 45% above it with earnings approaching next week.
People aren't socializing as much or congregating in big groups. Bars which had opened are now being forced to close.
Even if they hit their EPS target for the quarter. The story for the near term will not be positive.
This stock is over-bloated and ripe for shorting.
Near Term Target: $575.00
If $575 support is broken we could easily see the $525-$550 range.
Note: Not investment advice.