Possible Bullish Inside Day Candle Pattern Detected for Anheuser-Busch InBev (NYSE:BUD)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Anheuser-Busch InBev (NYSE:BUD) based on the price action in the company's shares. Today's price range of $123.80 and $124.89 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. Traders and investors interested in shares of Anheuser-Busch InBev may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Anheuser-Busch InBev has overhead space with shares priced $124.30, or 5.9% below the average consensus analyst price target of $132.13. Anheuser-Busch InBev shares have support at the 50-day moving average (MA) of $120.99 and additional support at the 200-day MA of $119.14.
Anheuser-Busch InBev NV brews beer. The Company manufactures ale, lager, stout, and bitter beer. Anheuser-Busch InBev owns brands that are both nationally and internationally prominent. The Company has production plants in Europe, the Americas, and Asia.
Anheuser-Busch InBev share prices have moved between a 52-week high of $132.91 and a 52-week low of $102.52 and are now trading 21% above that low price at $124.30 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Anheuser-Busch InBev on March 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.26. Since that recommendation, shares of Anheuser-Busch InBev have risen 3.2%. We continue to monitor BUD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish inside day candle Anheuser-Busch InBev