Monster Beverage sharpens decline - Analysis - 21-06-2022
7 months ago

Monster Beverage's stock (MNST) rose in the intraday levels after leaning on the support of the 50-day SMA, with positive signals from the RSI after reaching oversold levels, amid the dominance of the main upward correctional trend in the short term, marking a profit of 0.26%, or 23 cents, settling at 88.12, with trading volumes surpassing 4.8 million shares, above 10-day trading volumes of 3.3 million shares.


The consumer products company was protected from last week's blood bath in the stock market, however it reported total losses of 4.3%, but it was the only stock ending higher in its sector after the board approved a buyback program and raised Red Bull prices.


Analysts expect more gains for the stock, targeting the first resistance of 92.00, provided the support of 83.90 holds on.


Expected trend for today: Bullish

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