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Uptrend Broken SupportArchive
- 4/5/2024 -
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Monster Beverage (MNST) Technical Analysis
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| Summary:
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| | It was the negative week for the Monster Beverage (MNST). During the week, the MNST dropped -3.38 points, or -5.70%, and closed at 55.90 on Friday, April 5, 2024. Weekly volume was 7% above average.
 Long-term trend: [See MNST long-term trend chart]
A long-term downtrend had started on February 16, 2023 at 105.45 and reached 47.13 on October 13, 2023. MNST lost 58.32 points, or 55.31%, in 34 weeks. The price is now at the 15.04% retracement level.
 Medium-term trend: [See MNST medium-term trend chart]
A medium-term uptrend had started on February 5, 2024 at 54.76 and reached 61.23 on March 13, 2024. MNST gained -6.47 points, or -11.82%, in 5 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 54.90 and resistance is at 64.11. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See MNST weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 7, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See MNST short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 61.23 and reached 55.52 on April 4, 2024. MNST lost 5.71 points, or 9.33%, in 22 days. The price is now at the 6.65% retracement level.
 Daily Technical Indicators: [See MNST daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 21, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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