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Shares of Molson Coors Brewing Rise Above Previous 52-Week High

By David Diaz

Molson Coors Brewing (NYSE:TAP) traded at a new 52-week high today of $102.77. Approximately 75,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.

Molson Coors Brewing (NYSE:TAP) has potential upside of 8.6% based on a current price of $102.70 and analysts' consensus price target of $111.57. The stock should find initial support at its 50-day moving average (MA) of $93.64 and further support at its 200-day MA of $86.21.

Molson Coors Brewing Company brews beer through breweries in Canada, the United States and the United Kingdom. The Company conducts operations worldwide.

Over the past year, Molson Coors Brewing has traded in a range of $63.91 to $102.77 and is now at $102.70, 61% above that low. The 200-day and 50-day moving averages have moved 0.61% higher and 1.03% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Molson Coors Brewing on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.58. Since that recommendation, shares of Molson Coors Brewing have risen 14.4%. We continue to monitor TAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows molson coors brewing

Ticker(s): TAP