STZ just reported earnings and it looks really strong, for that reason there are two ways to trade, wait for 109,57 zone as a support to look for longs or we can have a gap and go
Descending Triangle (Monthly)
Pros:
R/R ratio high, above 9
Flat volume
PPS above 50Ma and 200MA
250RSI above 50, high
ATR ascending, more volatiliy
Cons:
RS descending and below 0
200MA ascending
Price target if confirmed:
I doubt that this will happen. Way too low
But the graph calls for 2,82$
Watching
Ascending Triangle
Pros:
R/R Ratio very high at 26+
Descending Volume
PPS above 50MA and 200MA
RS climbing, but still below 0
250RSI above 50
No resistance above 228,40
Cons:
200MA Descending/Flat
If confirmer:
PT1 = 207,13
PT2 = 228,40
PT3 = 281,20
No resistance above.
After triple top, $STZ may have found support just above $171 with the rounding pattern. The stock should have rallied from the bottom of $171, but the volume has been very low and the uptrend is currently unable to sustain itself. There may be resistance at around $187.
$STZ Constellation Brands (Corona/Modelo/etc) Bullish Crossover - Downtrend Breakout
Bullish 50D/200D ema crossover. Breaking out of recent downtrend.
Near term target: $200-$205 range by mid August
Note: Not investment advice
A break above the 200ma on the daily could result
in a nice rally on the back of good earnings.
Local trendline resistance @ $186
Multiyear downtrend resistance @ approx $196
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.
STZ announces earnings in the am BMO
Risky business to trade before earnings...and STZ is a long way from breaking out of it's V bottom
If the market responds well to earnings, the stock will most likely break out. If the news is received poorly, STZ may hit the gap under 149.5
Either way, risk is high. I hate these because if they beat earnings and the stock...
Just publishing this for own personal accountability and practice.
Looking to enter long calls (March 13/27) 210 and possible 230 leaps
if we can get a weekly close above 205.50
Possible inverse head and shoulders on the vberge of breaking.
Canopy earnings on Friday a obvious help, as there is some glimmer of recovery for the Cannabis stock that STZ has invested heavily in.
Will look for volume spike in the days to come.
13/Dec/2019 08:02 PM AUTHOR: Brandon Gum
--
Targeting a RSI downtrend line break that then drives price action to test the RSI uniformity line(horizontal line on RSI)
The stop makes sense to me. Im unsure on the target.
------------
I wish I had something to live for. Feel like letting go.
I use to have it all.
======================
EoY 2018 plus Canopy investment caused a fall out of long term range. An improvement in CGC (currently oversold) means a likely return to that range, which means a possible run to $240 by EoY 2020. Even if it doesn't recapture the previous trading range, it is at the bottom of this one. Expect a near term jump especially with CGC earnings coming up.
![STZ: All the Corona[viruses] in the World #corona #coronavirus](https://s3.tradingview.com/o/OJuWwmaL_mid.png "All the Corona[viruses] in the World #corona #coronavirus")
