Trading Idea: Entry Levels for Boston Beer
Published on Friday, 13 July 2012 06:56 Written by TradersHuddle Wire
New York, July 13th (TradersHuddle.com) - Shares of Boston Beer Company, Inc. (NYSE:SAM) are trading very close to calculated support at $112.80 with price action closing at just $114.11 and placing the stock near levels where traders will start paying attention.
Boston Beer's stock range is defined by its calculated support defined at $112.80 and by the resistance level at $128.07, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.
Traders wanting to establish a position should pay close attention to Boston Beer's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $128.07 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the 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.
- 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
- Approaching Support: Boston Beer
- Boston Beer Broke Support
- Trading Idea: Key levels for Boston Beer
- Will Boston Beer recover?
- Boston Beer Reports First Quarter 2013 Results
- Approaching Resistance: Boston Beer
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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