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Uptrend ExhaustionArchive
- 4/5/2024 -
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Molson Coors Brewing Company (TAP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Molson Coors Brewing Company (TAP). During the week, the TAP climbed 0.10 points, or 0.15%, and closed at 67.35 on Friday, April 5, 2024. Weekly volume was -20% below average.
 Long-term trend: [See TAP long-term trend chart]
A long-term uptrend had started on September 24, 2020 at 32.11 and reached 70.90 on July 26, 2023. TAP gained -38.79 points, or -120.80%, in 147 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 65.37 and resistance is at 73.99. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See TAP medium-term trend chart]
A medium-term downtrend had started on July 26, 2023 at 70.90 and reached 55.67 on November 2, 2023. TAP lost 15.23 points, or 21.48%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (60.89) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See TAP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 5, 2024. Use the following link to access a MACD help.
 Short-term trend: [See TAP short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 61.52 and reached 68.43 on April 4, 2024. TAP gained -6.91 points, or -11.23%, in 34 days. The price is now at the 15.63% retracement level.
 Daily Technical Indicators: [See TAP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
A Parabolic SAR (stop and reversal) indicator (66.94) comes close to the price (67.35). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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