ANHEUSER-BUSCH INBEV SA NVUpdated Flat beer!
This is definitely not a pretty sight. After this mornings profit warning, AB Inbev is taking some serious shots (pun intended).
This positive trendline (support) which started at the beginning of 2019, helped ANH being one of the top-performing FTSE/JSE All Share companies YTD. The support was however broken this week, with today's price movement dropping ANH below the 200-day moving average (R1254.19). Next target is R1158, with a break a close below this levels bringing back the declining parallel channel (next target R1070).
ANH do however find itself in EXTREME oversold position according to it's 14-day RSI, which could help a dead-cat-bounce. I would however caution any long positions before we see some sort of recovery.
This positive trendline (support) which started at the beginning of 2019, helped ANH being one of the top-performing FTSE/JSE All Share companies YTD. The support was however broken this week, with today's price movement dropping ANH below the 200-day moving average (R1254.19). Next target is R1158, with a break a close below this levels bringing back the declining parallel channel (next target R1070).
ANH do however find itself in EXTREME oversold position according to it's 14-day RSI, which could help a dead-cat-bounce. I would however caution any long positions before we see some sort of recovery.
Trade active
"Next target" reached. Still watching that R1158 closelyTrade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.