Possible Bearish Inside Day Candle Pattern Detected for Cia de Bebidas das Americas (NYSE:ABV)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cia de Bebidas das Americas (NYSE:ABV) based on the price action in the company's shares. Today's price range of $45.23 and $45.75 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cia de Bebidas das Americas may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
There is potential upside of 1.6% for shares of Cia de Bebidas das Americas based on a current price of $45.28 and an average consensus analyst price target of $46.00. Cia de Bebidas das Americas shares have support at the 50-day moving average (MA) of $44.72 and additional support at the 200-day MA of $40.31.
Companhia de Bebidas das Americas (AmBev) produces beer, soft drinks, teas, mineral water, and sports drinks. The Company's main brands are Antarctica, Brahma, and Skol. AmBev is the sole distributor of Pepsi products in Brazil.
In the past 52 weeks, shares of Cia de Bebidas das Americas have traded between a low of $35.44 and a high of $47.17 and are now at $45.28, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.39% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Cia de Bebidas das Americas. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cia de Bebidas das Americas in search of a potential trend change.
Keywords: bearish inside day candle cia de bebidas das americas