Boston Beer Is Near a Key Resistance Area
Published on Wednesday, 27 June 2012 09:00 Written by TradersHuddle Wire
New York, June 27th (TradersHuddle.com) - Shares of Boston Beer Company, Inc. (NYSE:SAM) are trading very close to calculated resistance at $120.00. The stock ended the trading session at just $117.37, which is near levels that make it difficult to buy or start a position.
The Boston Beer Company, Inc. (NYSE:SAM) produces a variety of craft-brewed beers at various contract breweries and Company-owned breweries. The Company sells its products under brand names such as Boston Beer Company, Oregon Beer and Samuel Adams.
Boston Beer's stock range is defined by its calculated support defined at $101.79 and by the resistance level at $120.00; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Boston Beer. However, as the stock pulls back towards $101.79 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $120.00 then traders will get an opportunity to enter the stock as it moves to a higher range.
- Boston Beer Broke Resistance
- Above Resistance: Boston Beer
- Boston Beer Is Close to the 50 Day Moving Average
- Is Boston Beer Waiting for a Break Out?
- Trading Idea: Momentum Building in Boston Beer
- Boston Beer Is in a Very Tight Range
- Trading Idea: Entry Levels for Boston Beer
- Is Boston Beer Expecting Resistance Soon?
- Is Boston Beer Closing in to Resistance?
- Boston Beer Is Approaching its 50 Day Moving Average
Related Partner Headlines
- UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Boston Beer Co. - Benzinga
- Beer Sales Fizzle Up in the U.S. - Benzinga
- Estee Lauder and Other Big Movers In Consumer/Non-Cyclical on August 20, 2012 - Investopedia
- Boston Beer Falls 6% after UBS Downgrade - Benzinga
- Biggest Consumer/Non-Cyclical Sector Movers for July 9, 2012 - Investopedia
- UPDATE: UBS Investment Research Downgrades Boston Beer to Sell As Revenue Growth Outlook Tempers - Benzinga
- Boston Beer Reaches New 52-Week High (SAM) - TheStreet.com
- UPDATE: Jefferies Raises PT to $103 on Boston Beer Company; Strong Volume - Benzinga
- Boston Beer Tops Street Estimates - Benzinga
- Boston Beer Company Inc. (SAM): Today's Featured Food & Beverage Winner - TheStreet.com
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