Economies.com provides the latest technical analysis and forecast of the European stocks, in order to keep track of the trend of the EU stocks.
AB InBev shares price didn’t get enough by forming a bearish gap in the last period, to expect forming new bearish waves, reinforcing the bearish bias domination by reaching 71.22, forming an extra resistance at 73.30 level makes us expect the price affection by extra negative pressures, that makes us wait for reaching new negative stations that might begin at 70.20 reaching to 61.8% Fibonacci correction level at 68.30.
Stochastic stability within the oversold level forms a main factor to confirm the bearish scenario, as it provides repeated negative momentum, to increase the chances for recording the suggested extra targets.
The expected trading range for today is between 72.45 and 70.20
The expected trend for today: Bearish