In late June prices gaped lower and started a sell-off that would mark down prices $70 or so. The decline was more rapid from October with prices in a cascade-like fall in December.
Constellation Brands (STZ) has completed a Harmonic Extended Bat Pattern.
Based on this and with the broad market at it back I target $199 as a profit objective. Above that I have a $250 target. But baby steps first.
Today's bounce signals a potential bottom.
Aggressive traders could probe the long side of STZ at current levels after the profit warning sell off two days ago.
Risk a close below $144 and look for a recovery back to the $195-$200 area in the months ahead.
The gap from Jan 7th opening around the $166.70 level was filled.
Note this is a 2400 minute (4 hour) chart.
Lets see what happens.
S.
Constellation Brands (STZ) has completed a Harmonic Extended Bat Pattern.
Based on this and with the broad market at it back I target $199 as a profit objective. Above that I have a $250 target. But baby steps first.
Today's bounce signals a potential bottom.
Aggressive traders could probe the long side of STZ at current levels after the profit warning sell off two days ago.
Risk a close below $144 and look for a recovery back to the $195-$200 area in the months ahead.
The gap from Jan 7th opening around the $166.70 level was filled.
Note this is a 2400 minute (4 hour) chart.
Lets see what happens.
S.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.