Monster Beverage: Top Buy Pick for 2020.
MNST is currently within its cyclical consolidation phase (1W RSI = 47.866, 1M RSI = 51.690, ADX = 21.720, Highs/Lows = 0.0000) following the price peak in 2018. This phase has lasted around 780 days in the past and was always followed by a strong rise to a new peak.
With the 1W MA200 supporting we have entered the last phase of this consolidation and if the Channel Up holds (dashed lines) we can claim that we are on the most optimal buy levels before the next price peak. We have set a 2020 target at 80.00. Risk-seeking investors may aim at the top of the Higher High trend line around 90.00.
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With the 1W MA200 supporting we have entered the last phase of this consolidation and if the Channel Up holds (dashed lines) we can claim that we are on the most optimal buy levels before the next price peak. We have set a 2020 target at 80.00. Risk-seeking investors may aim at the top of the Higher High trend line around 90.00.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial