Monster Beverage Pours An Earning Boost $MNST By: Greg Schnell | May 3, 2019
Monster (MNST) reported great numbers, beating on both earnings and revenue. What makes the chart valuable is that, after all is said and done, we can see that price is moving above the centre of the range. The real story here is that MNST has been flat money for the last 1.5 years. Also worth noting is the fact that the stock recently tried to break out, pulled back and has now relaunched.
While some of the mainstream stocks have garnered all of the attention, the technology names have underperformed over the last few weeks and defensives have started to lead.
We also saw this in September 2018:
While MNST pulled back in September 2018, I think the tone is changing here and defensive plays might hold up better as global growth continues to slow. I would wait for some sort of a 4-day pullback, subsequently looking to enter where I could control risk with a tight stop rather than trying to buy on a spike high.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must! • DiscoverGold
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