The Boston Beer Company, Inc. : Bullish indicators may support prices
By Arnaud Le Berre
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$159.43 | $170 | $159.2 | +6.63% |
Regarding the fundamentals, we note the increase of sales by 13% at USD 580 million recorded over the previous year. Furthermore, the Thomson Reuters consensus revised regularly EPS estimates for the current year.
Technically, the share has a bullish configuration and prices are supported by increasing moving averages. Prices are close to the USD 163.5 short term resistance, already reached two times.
Therefore, investors could take a long position in Boston Beer, on crossing of the USD 163.5 resistance in closing price with a first target at USD 170. A stop loss will be set under the USD 160 pivot point.