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Possible Bullish Inside Day Candle Pattern Detected for Monster Beverage (NASDAQ:MNST)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Monster Beverage (NASDAQ:MNST) based on the price action in the company's shares. Yesterday's price range of $60.81 and $62.13 is within the prior day'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 Monster Beverage may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Monster Beverage share prices have moved between a 52-week high of $70.21 and a 52-week low of $47.61 and closed yesterday at 29% above that low price at $61.33 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

Monster Beverage Corporation operates as a holding company. The Company, through its subsidiaries, markets and distributes energy drinks. Monster Beverage serves customers worldwide.

Monster Beverage (NASDAQ:MNST) defies analysts with a current price ($61.33) 1.7% above its average consensus price target of $60.29. Monster Beverage shares have support at the 50-day moving average (MA) of $60.11 and additional support at the 200-day MA of $57.18.

SmarTrend is tracking the current trend status for Monster Beverage and will alert subscribers who have MNST in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle monster beverage

Ticker(s): MNST