Monster Beverage Corporation Stock Forecast
Weaker technical forecast for Monster Beverage Corporation as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Monster Beverage Corporation stock price fell by -1.46% on the last day (Thursday, 18th Apr 2024) from $54.25 to $53.46. During the last trading day the stock fluctuated 2.32% from a day low at $53.21 to a day high of $54.44. The price has fallen in 6 of the last 10 days and is down by -4.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 5 million shares were bought and sold for approximately $254.29 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $56.06 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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MNST Signals & Forecast
There are few to no technical positive signals at the moment. The Monster Beverage Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $54.44 and $57.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -12.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Monster Beverage Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.24 between high and low, or 2.32%. For the last week, the stock has had daily average volatility of 2.25%.
Monster Beverage Corporation is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNST) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Monster Beverage Corporation to open at $53.70, and during the day (based on 14 day Average True Range), to move between $52.42 and $54.50, which gives a possible trading interval of +/-$1.04 (+/-1.95%) up or down from last closing price. If Monster Beverage Corporation takes out the full calculated possible swing range there will be an estimated 3.90% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $55.02, some $1.56 (2.92%) from the current price of $53.46, our system finds the risk reward not very attractive.
Is Monster Beverage Corporation stock A Buy?
Monster Beverage Corporation holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.808 Sell Candidate Downgraded
Predicted Opening Price for Monster Beverage Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $53.70 ( 0.452%) | $53.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.94 | 2.76 % | |
| R2 | 54.46 | 1.88 % | ||
| R1 | 54.17 | 1.33 % | ||
| Current price: | 53.46 | |||
| Support | S1 | 53.23 | -0.430 % | |
| S2 | 52.94 | -0.98 % | ||
| S3 | 52.47 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.10 | 10.55 % | |
| R2 | 55.14 | 3.14 % | ||
| R1 | 55.02 | 2.92 % | ||
| Current price | 53.46 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MNST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 07, 1990 | Nov 08, 1990 | Dec 21, 1990 | $0.0052 | 26.67% |
FAQ
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