Monster Beverage shares have gained more than 8% in the premarket, after posting earnings of $.48 per share rather than the expected $.38, sales had a increase of 11% which has pleased investors this morning. The stock could quite easily hit a all time high in the coming trading days, after consolidating for 1 year.
Monster Beverage Corp....
Bullish Divergence on RSI on recent low
MACD coming back around
Decreasing selling volume with first good breakout buy volume
Could see a 1 more dollar drop at most to touch the .786 fib retracement
Should see breakout before end of week
Short entry Now and ladder thru $62,Target $50.
MNST has remained within the long-term bullish channel, and returned after breaking out in 2017. Even tho I think a new bear channel is forming, there's an opportunity to catch a swing while staying in the bull channel.
Gap was created in Feb 2018, and we may look to finally fill it before thrusting down. How...
The price is below 30MM, and the slope of 30 MM is slightly negative. Theoretically, it's in phase 4. If the price breaks the resistant, it will be in stage 2, but I think this will happen in two months.
$MNST LONG i think we at least break the 200d and start the gap fill. Obviously we would like the market with us. It broke out of its recent consolidation to the upside. There was large size bullish put selling at the August 50 strike on 6/27. I will be buying calls in the morning. you can see my exact entry ticket on twitter @breakingoptions
MNST hit the resistance line and is following a reverse Elliot wave pattern. Im looking for it to shoot back up around A then sell of what I've got. If it follows the ABC off of the Elliot pattern i would buy around the pop after the B wave, thats what i will be doing. I will keep you guys updated
We have MNST showing a typical elliott wave pattern. It might dip down further but know that we are about to see an ABC bounce back. We also have a tell tale oversold point on the RSI so we should be looking at a pop but I am going to buy around B instead of now just to confirm that the stock is making an ABC pattern.
Will keep you guys updated --
About a month or two ago I mentioned Monster beverage to buy at around 50.
So here we are. Growing company might be a take over candidate soon.
Im bullish on Monster and in Asia they are growing fast.
Only my opinion so research yourself
May the markets be with us