ABINBEV ready to break up and beyond to 76.38
Scallop pattern has formed on the daily.
It hasn't created the pattern fully and a breakout is important to wait for.
The problem is before the Scallop there was an extended Rectangle pattern with a little range.
This box formation could take place again as companies tend to have their own trading personality.
Until the breakout occurs, it's a risky position to be in.
7>21>200
RSI>50
Target 76.38
ABOUT THE COMPANY
AB InBev (Anheuser-Busch InBev) is a multinational beverage and brewing company headquartered in Leuven, Belgium.
The company was formed in 2008 through the merger of Belgium-based InBev and American-based Anheuser-Busch.
AB InBev is the largest beer producer in the world, with a portfolio of over 500 beer brands sold in more than 150 countries.
Some of the company's most well-known brands include Budweiser, Corona, Stella Artois, and Beck's.
The company has a market capitalization of over 1160 billion (as of April 2023).
AB InBev has 155,000 employees worldwide and operates 170 breweries across the globe.
The company is known for its aggressive acquisition strategy, having acquired several major beer companies over the years, including SABMiller in 2016.
It hasn't created the pattern fully and a breakout is important to wait for.
The problem is before the Scallop there was an extended Rectangle pattern with a little range.
This box formation could take place again as companies tend to have their own trading personality.
Until the breakout occurs, it's a risky position to be in.
7>21>200
RSI>50
Target 76.38
ABOUT THE COMPANY
AB InBev (Anheuser-Busch InBev) is a multinational beverage and brewing company headquartered in Leuven, Belgium.
The company was formed in 2008 through the merger of Belgium-based InBev and American-based Anheuser-Busch.
AB InBev is the largest beer producer in the world, with a portfolio of over 500 beer brands sold in more than 150 countries.
Some of the company's most well-known brands include Budweiser, Corona, Stella Artois, and Beck's.
The company has a market capitalization of over 1160 billion (as of April 2023).
AB InBev has 155,000 employees worldwide and operates 170 breweries across the globe.
The company is known for its aggressive acquisition strategy, having acquired several major beer companies over the years, including SABMiller in 2016.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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