Jseanh
$ANH AB InBEV Bullish looking flag breakAnheuser-Busch InBev broke from a downward sloping channel and formed what looks like a bull flag
It has now broken out of that bull flag with a target of 12400
ABinBEVANH might see a move higher i the nest coming weeks inflation and higher prices might push it to the upside
JSE:ANH ABInbev Upward Stride Set to ContinueABInbev has been trading in defined upward channel. After testing the overbought line we have seen a significant bar indicating the upward stride should continue.
JSE:ANH ABInBev Following the TrendABInBev has been keeping to clear trend channels within a larger downward stride. With a break of the upward stride and rejection of the overbought line of the larger downward stride, we can possibly see a new downward trend starting.
$JSE-ANHJSE:ANH
Made inverted head and shoulders and broke above neck line. Unfortunately break was stopped by resistance at 118000
Currently making small flag consolidation.
Break above 118000 will open 129000 as target for head and shoulders.
Pull back towards neckline around 111000/112000 area would be great place to buy.
Looking for signs of a reversal - Close to double bottomAnheuser-Busch InBev is the leading global brewer and one of the world’s top five consumer products companies. The company is geographically diversified, with a balanced exposure to developed and developing markets. It draws on the collective strength of approximately 200 000 colleagues in more than 50 countries worldwide.
It hasn't been a great two years for Anheuser, after their merger with SABMiller in Oct 2016, in terms of their share price but they have the largest market cap on the JSE at the moment. They have big plans in terms of expansion on the African continent with production having started in Nigeria already and plans to open their first brewery in Mozambique next year as well as talks of closing a deal to build a brewery in Tanzania. A total shipment increase of more than 20% was recorded in the region for 2017 so it stands to reason that the 2018 figures will be promising as well. This combined with the expansion plans, leads me to believe that longer term investment will yield good returns.
Let's have a look at the technicals.
Daily (blue): We only have 2 years of history here but the setup looks good for some movement to the upside. According to my analysis, we are in wave 4 on the daily time frame. Price is trading close to previous lows so I am on the lookout for signs of a reversal which will indicate the next move up on wave 4.
H4 (green): With price trading very close to the previous low and coming off the bottom of the larger daily structure, I believe that wave 3 on the H4 time frame will start soon. I will be looking to trade wave 3 back to the top of the daily structure. AT that point I will need to look for confirmation of a break to the upside on the daily structure or alternatively a move down to complete wave 5 first.
