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Brewers Industry Stocks Technical Analysis - TAPArchive
- 11/8/2024 -
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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 first positive week for the Molson Coors Brewing Company (TAP). During the week, the TAP gained 4.56 points, or 8.29%, and closed at 59.56 on Friday, November 8, 2024. Weekly volume was 46% above average.
TAP is a member of Consumer Staples Sector. Consumer Staples is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 uptrend support line (71.03) is broken. A broken support is considered to be a long-term bearish 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 support 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 49.19 on June 14, 2024. TAP lost 21.71 points, or 30.62%, in 46 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 44.90 and resistance is at 67.73. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See TAP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since August 16, 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 November 7, 2024 at 52.51 and reached 60.55 on November 8, 2024. TAP gained -8.04 points, or -15.31%, in 1 days. The price is now at the 12.31% 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 above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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