ABEV is still in a long term correction, although the C Wave is looking like a sharp impulse down which could be a good short if the daily or lower; can show a correction for entry. High probability it will break the bottom. I will update the chart with future entries & stop losses & exits.
ABEV, price target 6.60, stop near 6.30, time frame till 31st of Jan, still learning so please let me know if you see anything I can improve on.
stock will work higher to complete the pattern, then continue its downward trend. sell at target or possible short.
ABEV had a good upward run breaking recent resistance. We think it will continue its upward run from here.
Date First Found- May 11, 2017
Pattern/Why- Flag formation
Entry Target Criteria- Pull back to $6.10
Exit Target Criteria- Momentum
Stop Loss Criteria- $5.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Since 2013 the downtrend is dominant. These days we have reached upside of the trendchannel - now ist perhaps time for Action:
Could AMBEV overcome this trend (with Prices > 5,6/5,75) a resumption of the longterm uptrend can be exspected.
Should AMBEV could not overcopme this mentioned Level, the next downwave can be exspected.
In my Chart i have shown these two ...