The Boston Beer $SAMBoston Beer is very strong and well volume. Expect a breakout next week. However, needs a pull back for heathy uptrend
SAM trade ideas
SAM - WEEKLY TECHNICAL ANALYSIS - BOSTON BEER CO INC - STOCKSA little hindsight on what could have been a nice short. Red line was your level. After a nice drop price pulled back to test that exact level and then went back down again. Price is rising yet again and could come to test that area once more. Since it has been tested before it has a better chance of pushing through it. That is not a rule just something to consider. I would be willing to take a short there if it hits it again but with a TIGHT STOP LOSS. Lines below are places I would take profits.
Good luck out there.
Clearly NOT financial advice.
Nomber Go Up. Dry January Epic FailDog Fish Head + Truly + happy midd/e/upper class of Americans = BOOM TIME $420 magic number
Symmetrical Wedge PatternIf the breakout is confirmed, the pattern has a target of $448.(mol 18%)
Stop $360 (-6%)
BOSTON BEER CO 1D TRIANGLE BREAKOUT TRADE Triangles, Descending Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Boston beer upgraded by BMO $410 target Not quite a buy yet but maybe todays upgrade could ignite a rally as we believe that the stock has completed a 4th wave retracement.
The indicators have looked to be bottoming ready for the nest impulse move higher.
Entry level $352
Price target $430
Average analysts price target $372
Short interest 19%
Boston Beer Co., Inc. engages in the business of alcoholic beverages. It operates through Boston Beer Company; and A&S Brewing segments. The Boston Beer Company segment comprises Samuel Adams, Twisted Tea, Angry Orchard, and Truly Hard Seltzer brands. The A&S Brewing Collaborative segment consists Coney Island Brewing Company, Angel City Brewing Company, and Concrete Beach Brewing Company. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.
SAM is not out of its trend
Don't get panicked by that Jefferies downgrade. SAM is resilient enough to withstand one bad day. I anticipate that the stock will be back in its uptrend within a week.
$SAM:NYSE - BOSTON BEER COMPANY - Good momentumBoston Beer company has been running well and continuing to set new highs. Broken out of a pretty strong resistance area. Might be worth a watch.
The Boston Beer Company, Inc. is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment. The Boston Beer Company segment comprises of the Company's Samuel Adams, Twisted Tea, Angry Orchard and Truly Spiked & Sparkling brands. The A&S Brewing Collaborative segment comprises of The Traveler Beer Company, Coney Island Brewing Company, Angel City Brewing Company and Concrete Beach Brewing Company. Both segments sell low alcohol beverages. The Company produces malt beverages and hard cider at the Company-owned breweries and under contract arrangements at other brewery locations. As of December 31, 2016, the Company sold its products to a network of approximately 350 wholesalers in the United States and to a network of distributors.
SAM needs to dropThanks for reading this post. For several reason it seems SAM needs to drop, we see from history that it doesn't like to leave gaps unfilled (see three thin grey rectangular shapes across the graph) and it currently has one at 366. There is also a 1.27 extension of the most recent impulse wave down from its high at 364. Using time symmetry (you can see it in the ABC correction I've outlined earlier in the year) I would say roughly 6 days after it starts to turn down would be a good time to take profits on a short position. Lastly we see a very high level of volume on a relatively average sized green candlestick which implies that a lot of selling is going on 'behind the scenes.' Today it got a price upgrade but I am still bearish into the mid 360s for aforementioned reasons, setup is invalidated only by SAM making a new high.
