MONSTER BEVERAGE CORP (NASDAQ:MNST) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has identified MONSTER BEVERAGE CORP (NASDAQ:MNST) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:MNST.

In-Depth Technical Analysis of MNST

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall MNST gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MNST is showing a nice and steady performance.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• MNST is one of the better performing stocks in the Beverages industry, it outperforms 83% of 32 stocks in the same industry.
• A new 52 week high is currently being made by MNST, which is a very good signal! Especially since the S&P500 is only trading in the middle part of its 52 week range, so MNST is leading the market.
• In the last month MNST has a been trading in the 57.01 - 61.83 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that MNST is one of the better performing stocks in the market, outperforming 90% of all stocks. However, this relatively good performance is mostly due to a recent big move.

For an up to date full technical analysis you can check the technical report of MNST

How does the Setup look for MNST

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, MNST has a 7 as its setup rating:

Besides having an excellent technical rating, MNST also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 61.01. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 60.01, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade MNST?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Of course, there are many ways to trade or not trade MNST and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.