TAP ( Coors Molson Miller ) Ready for Bullish Continuation?
Updated
On the daily chart, TAP was on a good trend up heading into earnings which were favorable.
It is consolidated since just after earnings in a " high tight bull flag pattern" Volume has been
healthy with many buyers and seller trading shares in a tight range channel. The stochastic
RSI is now at about 20% indicating TAP is in the oversold / undervalued area. The optimized
artificial intelligence moving average indicator shows parallel rises in both the short and long
MAs ( neither divergence nor convergence just consistent ). This is a minor healthy pullback
and a good entry point.
Fundamentally, the summer beer- drinking season will soon arrive. TAP may be benefitting
from the BUD backlash over the Bud Lite endorsement controversy.
My call options have been appreciated 50% in the past 2 1/2 weeks ( 4% per trading day ).
I will roll them into the call options expiring 9/15/23. I consider TAP to be a steady
consistent gainer and likely more or less recession-proof.
It is consolidated since just after earnings in a " high tight bull flag pattern" Volume has been
healthy with many buyers and seller trading shares in a tight range channel. The stochastic
RSI is now at about 20% indicating TAP is in the oversold / undervalued area. The optimized
artificial intelligence moving average indicator shows parallel rises in both the short and long
MAs ( neither divergence nor convergence just consistent ). This is a minor healthy pullback
and a good entry point.
Fundamentally, the summer beer- drinking season will soon arrive. TAP may be benefitting
from the BUD backlash over the Bud Lite endorsement controversy.
My call options have been appreciated 50% in the past 2 1/2 weeks ( 4% per trading day ).
I will roll them into the call options expiring 9/15/23. I consider TAP to be a steady
consistent gainer and likely more or less recession-proof.
Note
TAP is ready for another round
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